BlackRock, Inc. (NYSE:BLK) Position Cut by HCR Wealth Advisors

HCR Wealth Advisors trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 21.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 226 shares of the asset manager’s stock after selling 63 shares during the quarter. HCR Wealth Advisors’ holdings in BlackRock were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock during the first quarter valued at about $27,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the second quarter valued at about $31,000. Lam Group Inc. bought a new stake in shares of BlackRock during the first quarter valued at about $33,000. Finally, Fairman Group LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $35,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their price target on shares of BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group dropped their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley lifted their target price on BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $972.23.

BlackRock Trading Up 3.6 %

Shares of NYSE BLK opened at $990.26 on Friday. The stock has a market cap of $147.15 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30. The business has a 50 day simple moving average of $899.39 and a 200 day simple moving average of $831.36. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $996.29. 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 (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the business posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 annualized dividend and a yield of 2.06%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company’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 transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

About BlackRock

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.