Consolidated Capital Management LLC Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

Consolidated Capital Management LLC decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,467 shares of the asset manager’s stock after selling 175 shares during the period. BlackRock comprises about 1.9% of Consolidated Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Consolidated Capital Management LLC’s holdings in BlackRock were worth $4,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also 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 approximately $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter valued at approximately $31,000. Chilton Capital Management LLC bought a new position in BlackRock during the 1st quarter valued at $38,000. City Holding Co. acquired a new position in shares of BlackRock in the 3rd quarter worth approximately $55,000. Finally, Olistico Wealth LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 1.0 %

Shares of BLK stock opened at $1,025.80 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $152.43 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,027.14. The firm has a 50-day moving average price of $909.48 and a 200 day moving average price of $834.95.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $991.46.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock 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 transaction of $24,833,712.50. Following the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

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.