High Net Worth Advisory Group LLC Buys Shares of 247 BlackRock, Inc. (NYSE:BLK)

High Net Worth Advisory Group LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 247 shares of the asset manager’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the 1st quarter worth about $27,000. Pineridge Advisors LLC bought a new stake in BlackRock in the fourth quarter valued at approximately $28,000. Fairscale Capital LLC bought a new position in BlackRock during the 2nd quarter worth approximately $31,000. Lam Group Inc. acquired a new position in shares of BlackRock in the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new stake in shares of BlackRock in the 4th quarter valued at $35,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $990.26 on Monday. The company has a market cap of $147.15 billion, a PE ratio of 25.17, 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 52 week low of $596.18 and a 52 week high of $996.29. The business has a 50 day moving average price of $899.39 and a 200-day moving average price of $831.33.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock 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 approximately $298,272,703.50. The trade was a 0.00 % 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 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLK. StockNews.com assumed coverage on shares of BlackRock in a research report on Saturday. They set a “hold” rating on the stock. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI boosted their price target on BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $972.23.

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.