Inlet Private Wealth LLC Has $3.71 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Inlet Private Wealth LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,911 shares of the asset manager’s stock after selling 15 shares during the quarter. Inlet Private Wealth LLC’s holdings in BlackRock were worth $3,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BLK. Global Retirement Partners LLC lifted its position in shares of BlackRock by 7.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,779 shares of the asset manager’s stock valued at $4,537,000 after acquiring an additional 351 shares in the last quarter. Good Life Advisors LLC lifted its stake in BlackRock by 50.0% in the 3rd quarter. Good Life Advisors LLC now owns 816 shares of the asset manager’s stock worth $775,000 after acquiring an additional 272 shares in the last quarter. Hengehold Capital Management LLC boosted its position in BlackRock by 2.1% during the 3rd quarter. Hengehold Capital Management LLC now owns 5,341 shares of the asset manager’s stock worth $5,071,000 after acquiring an additional 111 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of BlackRock in the 3rd quarter valued at about $2,555,000. Finally, Leisure Capital Management lifted its position in shares of BlackRock by 2.3% in the third quarter. Leisure Capital Management now owns 1,493 shares of the asset manager’s stock worth $1,418,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BLK shares. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Argus lifted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

BlackRock Stock Performance

Shares of BLK traded down $6.56 during mid-day trading on Thursday, hitting $1,009.19. The company’s stock had a trading volume of 256,644 shares, compared to its average volume of 576,033. The stock’s 50-day moving average is $909.48 and its two-hundred day moving average is $834.95. The firm has a market capitalization of $149.97 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00.

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 net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business posted $10.91 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over 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 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.