BlackRock, Inc. (NYSE:BLK) Stock Position Raised by Claro Advisors LLC

Claro Advisors LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 249.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,834 shares of the asset manager’s stock after purchasing an additional 4,165 shares during the period. Claro Advisors LLC’s holdings in BlackRock were worth $5,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the 2nd quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in shares of BlackRock during the 1st quarter valued at about $38,000. Olistico Wealth LLC acquired a new position in shares of BlackRock during the 2nd quarter valued at about $53,000. Finally, ORG Partners LLC increased its holdings in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock valued at $54,000 after acquiring an additional 49 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of NYSE:BLK traded down $0.01 during trading on Friday, hitting $1,002.49. 73,341 shares of the stock were exchanged, compared to its average volume of 575,715. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The company has a market capitalization of $148.97 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company’s fifty day simple moving average is $912.43 and its 200-day simple moving average is $836.11. 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 (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm earned $10.91 EPS. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on 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 owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $10,800,000.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock worth $56,857,777 in the last 90 days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. StockNews.com started coverage on BlackRock in a report on Saturday, October 12th. They issued a “hold” rating on the stock. Citigroup raised their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group raised their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, UBS Group lowered their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $991.46.

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.