BlackRock, Inc. (NYSE:BLK) Shares Sold by HCR Wealth Advisors

HCR Wealth Advisors reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 21.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226 shares of the asset manager’s stock after selling 63 shares during the period. HCR Wealth Advisors’ holdings in BlackRock were worth $215,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in shares of BlackRock by 24,171.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after acquiring an additional 414,300 shares during the period. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the period. M&G Plc purchased a new position in shares of BlackRock during the 1st quarter worth about $161,918,000. Finally, Mubadala Investment Co PJSC purchased a new position in shares of BlackRock during the 4th quarter worth about $147,748,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Up 3.6 %

BLK stock opened at $990.26 on Friday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $996.29. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $147.15 billion, a P/E ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30. The firm has a 50 day simple moving average of $899.39 and a 200-day simple moving average of $831.36.

BlackRock (NYSE:BLK) last released its quarterly 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 net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the company earned $10.91 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts predict 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 given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

Several research firms recently commented on BLK. Barclays raised their price target on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a report on Monday, October 7th. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday. Citigroup raised their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $972.23.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock 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 of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last 90 days. 0.90% of the stock is owned by company insiders.

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.