9258 Wealth Management LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,980 shares of the asset manager's stock after selling 135 shares during the quarter. 9258 Wealth Management LLC's holdings in BlackRock were worth $1,089,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Sendero Wealth Management LLC purchased a new stake in shares of BlackRock in the second quarter worth $373,000. Wagner Wealth Management LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at about $25,000. Coston McIsaac & Partners purchased a new position in shares of BlackRock during the second quarter worth about $34,000. Karp Capital Management Corp bought a new position in BlackRock in the third quarter valued at $31,000. Finally, WFA of San Diego LLC bought a new stake in BlackRock in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.69% of the company's stock.
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BlackRock Price Performance
Shares of BLK opened at $757.16 on Friday. The firm's 50-day simple moving average is $727.09 and its two-hundred day simple moving average is $680.69. BlackRock, Inc. has a fifty-two week low of $503.12 and a fifty-two week high of $824.87. The stock has a market cap of $113.73 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.03 and a current ratio of 3.03.
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share for the quarter, topping the consensus estimate of $7.99 by $0.94. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.16 billion. BlackRock had a return on equity of 14.43% and a net
margin of 28.97%. Analysts anticipate that BlackRock, Inc. will post 34.53 earnings per share for the current fiscal year.
BlackRock Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 7th will be issued a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.64%. This is an increase from BlackRock's previous quarterly dividend of $4.88. The ex-dividend date of this dividend is Monday, March 6th. BlackRock's dividend payout ratio (DPR) is presently 57.50%.
Insider Buying and Selling
In other BlackRock news, CEO Laurence Fink sold 14,600 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the completion of the sale, the chief executive officer now owns 549,171 shares of the company's stock, valued at $376,500,654.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Rachel Lord sold 3,950 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $773.41, for a total value of $3,054,969.50. Following the completion of the transaction, the director now owns 8,319 shares of the company's stock, valued at approximately $6,433,997.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 14,600 shares of the firm's stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $685.58, for a total value of $10,009,468.00. Following the completion of the sale, the chief executive officer now owns 549,171 shares of the company's stock, valued at $376,500,654.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,474 shares of company stock worth $46,026,990. 1.06% of the stock is owned by insiders.
Analysts Set New Price Targets
BLK has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of BlackRock in a research report on Wednesday, December 14th. They issued an "overweight" rating and a $820.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on BlackRock from $716.00 to $666.00 and set an "overweight" rating on the stock in a research report on Friday, October 14th. Bank of America cut their price target on shares of BlackRock from $821.00 to $813.00 in a report on Sunday, January 15th. Credit Suisse Group increased their target price on shares of BlackRock from $540.00 to $680.00 and gave the stock a "neutral" rating in a report on Thursday, January 12th. Finally, BMO Capital Markets lowered their price target on BlackRock from $495.00 to $481.00 and set a "market perform" rating for the company in a research report on Friday, October 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $738.80.
BlackRock Company Profile
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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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