BlackRock, Inc. (NYSE:BLK) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management trimmed its position in BlackRock, Inc. (NYSE:BLK) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,453 shares of the asset manager’s stock after selling 16 shares during the period. Bar Harbor Wealth Management’s holdings in BlackRock were worth $1,380,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BLK. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter valued at $27,000. Fairscale Capital LLC purchased a new position in shares of BlackRock in the second quarter worth about $31,000. Chilton Capital Management LLC acquired a new position in BlackRock during the first quarter worth about $38,000. City Holding Co. purchased a new stake in BlackRock during the 3rd quarter valued at about $55,000. Finally, Olistico Wealth LLC purchased a new stake in BlackRock during the 2nd quarter valued at about $53,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley upped their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group raised their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were 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 directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. 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 accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’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. The trade was 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 in the last three months. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

NYSE BLK opened at $1,001.88 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $148.88 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.94 and a beta of 1.30. The stock has a 50-day moving average of $912.43 and a two-hundred day moving average of $836.11. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00.

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. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.91 earnings per share. As a group, analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Announces Dividend

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. This represents a $20.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is currently 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.