Curi RMB Capital LLC Acquires 2,338 Shares of BlackRock, Inc. (NYSE:BLK)

Curi RMB Capital LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,136 shares of the asset manager’s stock after acquiring an additional 2,338 shares during the period. Curi RMB Capital LLC’s holdings in BlackRock were worth $16,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fidelity D & D Bancorp Inc. boosted its holdings in BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 10 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after purchasing an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 10 shares during the period. Legacy Capital Group California Inc. boosted its holdings in BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after buying an additional 10 shares during the last quarter. Finally, Marino Stram & Associates LLC increased its stake in shares of BlackRock by 0.3% in the 4th quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager’s stock valued at $3,496,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Bank of America cut their price target on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,077.08.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 20,430 shares of company stock worth $21,234,629. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $875.86 on Friday. The company has a market cap of $135.98 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.90 and a beta of 1.38. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The business has a fifty day simple moving average of $930.31 and a 200 day simple moving average of $985.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the previous year, the business posted $9.81 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is presently 50.63%.

BlackRock Company Profile

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.