Tiemann Investment Advisors LLC Sells 15 Shares of BlackRock, Inc. (NYSE:BLK)

Tiemann Investment Advisors LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 363 shares of the asset manager’s stock after selling 15 shares during the period. Tiemann Investment Advisors LLC’s holdings in BlackRock were worth $372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BLK. Capital Performance Advisors LLP bought a new position in shares of BlackRock in the 3rd quarter worth approximately $54,000. Equitable Trust Co. grew its stake in BlackRock by 1.3% in the third quarter. Equitable Trust Co. now owns 2,950 shares of the asset manager’s stock worth $2,801,000 after purchasing an additional 39 shares during the period. CWA Asset Management Group LLC bought a new position in BlackRock in the third quarter worth $480,000. United Bank lifted its position in BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after buying an additional 12 shares during the period. Finally, Rovin Capital UT ADV bought a new stake in shares of BlackRock during the 3rd quarter valued at $226,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Down 1.2 %

Shares of NYSE:BLK opened at $947.96 on Monday. 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 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’s 50-day simple moving average is $994.60 and its two-hundred day simple moving average is $985.86. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.66 EPS. Analysts expect that BlackRock, Inc. will post 47.41 EPS for the current 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. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.20%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is 49.62%.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 20,430 shares of company stock valued at $21,234,629 in the last ninety days. 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. StockNews.com started coverage on shares of BlackRock in a research report on Wednesday, March 5th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 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.