BlackRock, Inc. (NYSE:BLK) Stock Holdings Trimmed by Edge Wealth Management LLC

Edge Wealth Management LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,051 shares of the asset manager’s stock after selling 18 shares during the quarter. BlackRock accounts for 2.9% of Edge Wealth Management LLC’s portfolio, making the stock its 14th largest position. Edge Wealth Management LLC’s holdings in BlackRock were worth $14,291,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the 1st quarter valued at $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock in the 2nd quarter worth $31,000. Lam Group Inc. acquired a new position in shares of BlackRock in the 1st quarter worth $33,000. Fairman Group LLC acquired a new position in shares of BlackRock in the 4th quarter worth $35,000. Finally, Chilton Capital Management LLC acquired a new position in shares of BlackRock in the 1st quarter worth $38,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of the business’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction 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 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 in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,042 shares of company stock worth $56,857,777. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK traded up $15.28 on Tuesday, hitting $1,007.00. 618,744 shares of the stock traded hands, compared to its average volume of 577,834. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,016.45. 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 firm has a market capitalization of $149.64 billion, a PE ratio of 25.20, a P/E/G ratio of 1.94 and a beta of 1.30. The business has a fifty day moving average price of $902.62 and a two-hundred day moving average price of $832.46.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous 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. On average, research analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI lifted their price target on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a report on Monday. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods lifted their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $991.46.

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.