Columbus Macro LLC Acquires 5,160 Shares in BlackRock, Inc. (NYSE:BLK)

Columbus Macro LLC has recently disclosed its acquisition of a new position in BlackRock, Inc. (NYSE:BLK) for the fourth quarter, as detailed in its latest filing with the Securities and Exchange Commission (SEC). The firm purchased 5,160 shares of the asset management company's stock, which is valued at around $5,290,000.

A number of institutional investors and hedge funds have also recently modified their investments in BlackRock. For instance, FSA Wealth Management LLC acquired a new stake in the company during the third quarter worth approximately $26,000. Additionally, Atwood & Palmer Inc. bought a new position during the fourth quarter valued at $36,000, while West Financial Advisors LLC made a purchase worth about $39,000 in the same period. Moreover, Reston Wealth Management LLC secured a new stake during the third quarter, estimated at around $37,000. Finally, MFA Wealth Advisors LLC rationally doubled its ownership of BlackRock, increasing its stake by 100% during the third quarter, now holding 40 shares valued at $38,000.

BlackRock Stock Performance

On Tuesday, shares of BlackRock opened at $1,014.90. The company reports a debt-to-equity ratio of 0.45, with both quick and current ratios standing at 5.23. Over the past year, BlackRock has seen a low of $745.55 and a high of $1,084.22. The firm has a market capitalization of $157.19 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.06, and a beta value of 1.28.

Latest Earnings Reports

BlackRock (NYSE:BLK) released its latest quarterly earnings results on January 15th. The asset manager reported earnings of $11.93 per share for the quarter, which surpassed the consensus estimate of $11.52 by $0.41. For the same period, the firm generated $5.68 billion in revenue, exceeding analysts' expectations of $5.57 billion. The company achieved a net margin of 31.21% and a return on equity of 16.32%, with revenues up 22.6% compared to the same quarter last year, having earned $9.66 per share during that period.

Dividend Announcement

In recent news, BlackRock announced a quarterly dividend payment to be issued on March 24th. Shareholders of record on March 7th will receive a dividend of $5.21 per share, representing an annualized dividend of $20.84 with a yield of 2.05%. This follows an increase from the previous quarterly dividend of $5.10. The company's dividend payout ratio stands at 48.57%.

Insider Transactions

Director J. Richard Kushel recently sold 10,000 shares of the company's stock on January 21st at an average price of $1,010.00, totaling $10,100,000. Following this transaction, Kushel now directly owns 68,433 shares valued at approximately $69,117,330, marking a 12.75% decrease in personal ownership. Additionally, Director Mark Wiedman sold 36,190 shares on December 6th at an average price of $1,045.90, which resulted in a considerable total transaction of $37,851,121. Following this sale, he retains 6,480 shares valued at $6,777,432, reflecting an 84.81% decrease in ownership. Insiders have sold 110,190 shares of company stock worth around $115,163,141 over the past 90 days, leaving company insiders owning 0.90% of the stock.

Analyst Ratings Summary

Recent analysis has seen several analysts issuing reports on BlackRock shares. For instance, TD Cowen has raised the target price from $960.00 to $1,077.00, maintaining a "buy" rating. On the other hand, JPMorgan Chase & Co. raised its target from $914.00 to $971.00 while providing a "neutral" rating. Similarly, UBS Group increased the price target from $1,017.00 to $1,045.00 with a neutral stance. Barclays revised their target down from $1,220.00 to $1,160.00 while retaining an "overweight" rating. Citigroup increased its estimate for BlackRock from $1,150.00 to $1,200.00, also rating the stock as a "buy." Currently, three analysts have a hold rating, while ten have a buy rating, leading to an average rating of "Moderate Buy" with a target price of $1,120.67.

Company Overview

BlackRock, Inc. is a publicly traded independent investment management firm that primarily serves institutional, intermediary, and individual investors, including pension plans, insurance companies, third-party mutual funds, and sovereign wealth funds.

acquisition, investment, performance