BlackRock, Inc. (NYSE:BLK) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,581 shares of the asset manager’s stock after selling 53 shares during the period. Bleakley Financial Group LLC’s holdings in BlackRock were worth $3,400,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. XML Financial LLC raised its holdings in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the period. Pine Haven Investment Counsel Inc raised its stake in shares of BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock worth $890,000 after buying an additional 12 shares during the period. Hexagon Capital Partners LLC grew its stake in BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 13 shares during the period. Forza Wealth Management LLC increased its holdings in BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after acquiring an additional 13 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after acquiring an additional 13 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLK. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

BlackRock Stock Up 0.5 %

NYSE BLK opened at $1,007.02 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00. The business’s fifty day simple moving average is $915.45 and its 200-day simple moving average is $837.36. The firm has a market cap of $149.64 billion, a PE ratio of 25.59, a P/E/G ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock’s payout ratio is 51.84%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 over the last quarter. 0.90% of the stock is owned by insiders.

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.