Lido Advisors LLC Sells 63 Shares of BlackRock, Inc. (NYSE:BLK)

Lido Advisors LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,444 shares of the asset manager’s stock after selling 63 shares during the quarter. Lido Advisors LLC’s holdings in BlackRock were worth $12,757,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of BlackRock by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager’s stock valued at $1,631,684,000 after purchasing an additional 272,176 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of BlackRock by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 89,379 shares of the asset manager’s stock valued at $91,623,000 after purchasing an additional 3,769 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $221,000. Beacon Pointe Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $2,807,000. Finally, Whalerock Point Partners LLC boosted its stake in shares of BlackRock by 20.8% in the 4th quarter. Whalerock Point Partners LLC now owns 337 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.8 %

BLK stock opened at $914.87 on Tuesday. BlackRock, Inc. has a fifty-two week low of $748.78 and a fifty-two week high of $1,084.22. The business’s 50 day moving average price is $920.58 and its two-hundred day moving average price is $983.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company has a market capitalization of $142.04 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38.

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

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a $5.21 dividend. The ex-dividend date was Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.28%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 50.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley cut their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Tuesday, April 22nd. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,077.08.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now owns 3,720 shares in the company, valued at $3,531,656.40. This represents a 10.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 22,430 shares of company stock worth $21,963,649 in the last 90 days. Insiders own 1.98% of the company’s stock.

BlackRock 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.