Jackson Hole Capital Partners LLC Buys New Shares in BlackRock, Inc. (NYSE:BLK)

Jackson Hole Capital Partners LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 429 shares of the asset manager’s stock, valued at approximately $440,000.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in BlackRock in the third quarter valued at $26,000. Collier Financial purchased a new position in shares of BlackRock in the fourth quarter worth about $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock in the fourth quarter worth about $33,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the fourth quarter worth about $36,000. Finally, West Financial Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter worth about $39,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 1.2 %

Shares of BLK opened at $947.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The stock has a market capitalization of $146.82 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.28. The stock has a 50 day moving average price of $994.60 and a 200 day moving average price of $985.00.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $9.66 EPS. Equities research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is presently 49.62%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BLK shares. Keefe, Bruyette & Woods reduced their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company upped their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley upped their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.