Occidental Asset Management LLC Acquires Shares of 215 BlackRock, Inc. (NYSE:BLK)

Occidental Asset Management LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 215 shares of the asset manager’s stock, valued at approximately $204,000.

Several other hedge funds have also bought and sold shares of BLK. XML Financial LLC boosted its position in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of BlackRock by 1.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock worth $890,000 after purchasing an additional 12 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares in the last quarter. Forza Wealth Management LLC increased its position in BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 1.5 %

BLK stock opened at $1,007.00 on Wednesday. The firm’s fifty day simple moving average is $905.97 and its two-hundred day simple moving average is $833.68. The stock has a market capitalization of $149.64 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $1,016.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. As a group, analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Activity at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction that occurred on 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 in the company, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela Daley sold 1,531 shares of the firm’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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last quarter. 0.90% of the stock is owned by corporate insiders.

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.