Beaumont Financial Advisors LLC Has $1.01 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Beaumont Financial Advisors LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 5.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,064 shares of the asset manager’s stock after purchasing an additional 56 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in BlackRock were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in BlackRock by 0.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 77,052 shares of the asset manager’s stock worth $62,551,000 after acquiring an additional 647 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in BlackRock during the 4th quarter worth about $31,637,000. Burford Brothers Inc. acquired a new stake in BlackRock during the 4th quarter worth about $638,000. FIL Ltd boosted its position in BlackRock by 5.3% during the 4th quarter. FIL Ltd now owns 840,453 shares of the asset manager’s stock worth $682,280,000 after acquiring an additional 42,347 shares during the period. Finally, Quarry LP acquired a new stake in BlackRock during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $990.48 on Friday. 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 business’s 50 day moving average is $899.39 and its two-hundred day moving average is $831.29. The company has a market cap of $147.19 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $996.29.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.30 by $1.16. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $10.91 EPS. On average, equities analysts expect 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 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Argus raised their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. StockNews.com initiated coverage on BlackRock in a research note on Saturday. They set a “hold” rating for the company. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Citigroup raised their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $972.23.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark Wiedman sold 11,061 shares of BlackRock stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, 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. In the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 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.