BlackRock, Inc. (NYSE:BLK) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,892 shares of the asset manager’s stock after buying an additional 29 shares during the period. Ritholtz Wealth Management’s holdings in BlackRock were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter worth $27,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter worth $28,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth $31,000. Lam Group Inc. acquired a new stake in shares of BlackRock during the 1st quarter worth $33,000. Finally, Fairman Group LLC acquired a new stake in shares of BlackRock during the 4th quarter worth $35,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, 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 owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 over the last quarter. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BLK shares. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their price target on BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group increased their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Evercore ISI upped their price objective on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Three 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $972.23.

BlackRock Stock Performance

Shares of BLK stock opened at $990.26 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $996.29. The company’s 50-day simple moving average is $899.39 and its 200-day simple moving average is $831.33. The stock has a market capitalization of $147.15 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.06%. BlackRock’s dividend payout ratio is currently 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.