BlackRock, Inc. (NYSE:BLK) Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,911 shares of the asset manager’s stock after selling 15 shares during the period. Inlet Private Wealth LLC’s holdings in BlackRock were worth $3,714,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BLK. NBC Securities Inc. grew its position in BlackRock by 8.0% during the first quarter. NBC Securities Inc. now owns 1,136 shares of the asset manager’s stock valued at $947,000 after acquiring an additional 84 shares during the period. Los Angeles Capital Management LLC increased its position in BlackRock by 1,384.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 11,773 shares of the asset manager’s stock worth $9,815,000 after purchasing an additional 10,980 shares in the last quarter. First Hawaiian Bank purchased a new position in BlackRock in the first quarter valued at approximately $200,000. Farmers Trust Co. acquired a new position in BlackRock during the first quarter valued at approximately $218,000. Finally, Legacy Private Trust Co. grew its stake in BlackRock by 4.3% during the first quarter. Legacy Private Trust Co. now owns 2,152 shares of the asset manager’s stock worth $1,794,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.6 %

NYSE BLK traded down $6.56 on Thursday, hitting $1,009.19. 256,644 shares of the stock traded hands, compared to its average volume of 576,033. 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 stock has a 50-day moving average of $909.48 and a 200 day moving average of $834.95. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,032.00. The company has a market capitalization of $149.97 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

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, 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 for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the company posted $10.91 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analyst Weigh In

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Morgan Stanley upped their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday. 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. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $991.46.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. 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 11,061 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock 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 completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

BlackRock Company 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.