Brown Lisle Cummings Inc. Has $428,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Brown Lisle Cummings Inc. reduced its position in BlackRock, Inc. (NYSE:BLK) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 451 shares of the asset manager’s stock after selling 15 shares during the period. Brown Lisle Cummings Inc.’s holdings in BlackRock were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter valued at about $27,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC purchased a new stake in shares of BlackRock in the first quarter worth approximately $38,000. Olistico Wealth LLC purchased a new position in BlackRock during the 2nd quarter worth $53,000. Finally, ORG Partners LLC lifted its position in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLK. Barclays raised their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $991.46.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated 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 approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Up 0.5 %

BLK opened at $1,007.02 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00. The firm has a market capitalization of $149.64 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a fifty day moving average price of $915.45 and a 200-day moving average price of $837.66.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

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.