BlackRock, Inc. (NYSE:BLK) Shares Sold by Consolidated Capital Management LLC

Consolidated Capital Management LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,410 shares of the asset manager’s stock after selling 57 shares during the quarter. BlackRock comprises approximately 2.0% of Consolidated Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Consolidated Capital Management LLC’s holdings in BlackRock were worth $4,521,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Marino Stram & Associates LLC boosted its stake in shares of BlackRock by 0.3% in the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. boosted its position in BlackRock by 3.7% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after purchasing an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its stake in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the period. Ballentine Partners LLC increased its holdings in shares of BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays cut their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Citigroup increased their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,103.33.

Insiders Place Their Bets

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,004.23 on Monday. The company has a fifty day simple moving average of $1,027.33 and a 200-day simple moving average of $947.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.66 EPS. On average, equities analysts anticipate that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

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.