BlackRock, Inc. (NYSE:BLK) Shares Sold by Cwm LLC

Cwm LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,146 shares of the asset manager’s stock after selling 488 shares during the quarter. Cwm LLC’s holdings in BlackRock were worth $8,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. Redmont Wealth Advisors LLC purchased a new stake in BlackRock during the 1st quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter worth about $28,000. Fairscale Capital LLC acquired a new position in shares of BlackRock in the second quarter worth about $31,000. Lam Group Inc. purchased a new position in BlackRock in the first quarter valued at about $33,000. Finally, Fairman Group LLC acquired a new stake in BlackRock during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock 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 transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,042 shares of company stock worth $79,387,117. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BLK shares. Wells Fargo & Company upped their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Barclays boosted their target price on shares of BlackRock from $990.00 to $1,010.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen increased their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI boosted their price objective on BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $972.23.

BlackRock Trading Up 3.7 %

NYSE:BLK opened at $990.48 on Friday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $996.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a 50 day simple moving average of $899.39 and a 200 day simple moving average of $831.29. The firm has a market capitalization of $147.19 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.30 by $1.16. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.91 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.06%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

BlackRock 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.