Palouse Capital Management Inc. Has $4.35 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Palouse Capital Management Inc. lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,576 shares of the asset manager’s stock after selling 153 shares during the period. BlackRock makes up approximately 2.7% of Palouse Capital Management Inc.’s holdings, making the stock its 5th biggest position. Palouse Capital Management Inc.’s holdings in BlackRock were worth $4,345,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. 1858 Wealth Management LLC purchased a new position in shares of BlackRock in the 3rd quarter worth $230,000. Toth Financial Advisory Corp lifted its holdings in BlackRock by 1.4% in the third quarter. Toth Financial Advisory Corp now owns 9,703 shares of the asset manager’s stock valued at $9,213,000 after acquiring an additional 134 shares during the period. Marino Stram & Associates LLC boosted its position in BlackRock by 0.3% in the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Prio Wealth Limited Partnership bought a new stake in shares of BlackRock during the 3rd quarter valued at about $229,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of BlackRock by 34.9% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 429 shares of the asset manager’s stock valued at $407,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BLK shares. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com started coverage on BlackRock in a research note on Sunday. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $995.31.

Insider Activity at BlackRock

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 transaction of $1,289,224.48. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction 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 directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is owned by company insiders.

BlackRock Stock Down 0.7 %

BLK stock traded down $7.04 on Monday, hitting $999.98. 160,956 shares of the company’s stock were exchanged, compared to its average volume of 575,786. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00. The stock has a market cap of $148.60 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a 50 day moving average price of $915.45 and a two-hundred day moving average price of $837.66.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company earned $10.91 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock’s payout ratio is 51.84%.

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.