BlackRock, Inc. (NYSE:BLK) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,051 shares of the asset manager’s stock after selling 18 shares during the period. BlackRock makes up approximately 2.9% of Edge Wealth Management LLC’s portfolio, making the stock its 14th biggest holding. Edge Wealth Management LLC’s holdings in BlackRock were worth $14,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares during the period. Oak Harvest Investment Services acquired a new stake in BlackRock in the first quarter valued at $6,735,000. Cetera Investment Advisers grew its holdings in BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares during the last quarter. Finally, M&G Plc acquired a new stake in BlackRock in the first quarter valued at $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 1.5 %

Shares of BlackRock stock traded up $15.28 during trading hours on Tuesday, reaching $1,007.00. The stock had a trading volume of 618,744 shares, compared to its average volume of 577,834. The firm has a 50 day simple moving average of $902.62 and a two-hundred day simple moving average of $832.46. The firm has a market capitalization of $149.64 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $1,016.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $10.91 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday. Evercore ISI upped their target price on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday. 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 report on Wednesday, October 9th. TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Three 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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 owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’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 sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate 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.