Consolidated Capital Management LLC Sells 175 Shares of BlackRock, Inc. (NYSE:BLK)

Consolidated Capital Management LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,467 shares of the asset manager’s stock after selling 175 shares during the quarter. BlackRock comprises about 1.9% of Consolidated Capital Management LLC’s portfolio, making the stock its 19th biggest holding. Consolidated Capital Management LLC’s holdings in BlackRock were worth $4,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BLK. Vanguard Group Inc. lifted its stake in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Legal & General Group Plc raised its position in shares of BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of BlackRock by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock worth $539,673,000 after purchasing an additional 17,087 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

BLK stock opened at $1,025.80 on Thursday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $909.48 and its two-hundred day moving average price is $834.95. The stock has a market capitalization of $152.43 billion, a price-to-earnings ratio of 25.81, a PEG 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 $1,027.14.

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

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In related 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 sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. 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 available at this link. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred 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 owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. 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 this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com started coverage on BlackRock in a research report on Saturday, October 12th. They issued a “hold” rating for the company. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen upped their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $991.46.

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.