266 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by 49 Wealth Management LLC

49 Wealth Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 266 shares of the asset manager’s stock, valued at approximately $253,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Natixis bought a new position in BlackRock during the 1st quarter worth about $390,000. Epoch Investment Partners Inc. raised its position in BlackRock by 2.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 53,978 shares of the asset manager’s stock worth $45,001,000 after buying an additional 1,253 shares during the last quarter. Lazard Asset Management LLC raised its position in BlackRock by 9.5% during the 1st quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager’s stock worth $781,000 after buying an additional 81 shares during the last quarter. Steel Grove Capital Advisors LLC purchased a new position in shares of BlackRock during the 1st quarter valued at approximately $304,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of BlackRock by 3.3% during the 1st quarter. Kestra Advisory Services LLC now owns 15,038 shares of the asset manager’s stock valued at $12,537,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com assumed coverage on shares of BlackRock in a report on Thursday. They set a “hold” rating for the company. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BLK opened at $1,036.46 on Friday. BlackRock, Inc. has a 52-week low of $724.54 and a 52-week high of $1,068.34. 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’s fifty day moving average is $984.28 and its two-hundred day moving average is $879.49. The stock has a market cap of $160.53 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 net margin of 31.37% and a return on equity of 15.52%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.91 EPS. Research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s payout ratio is 50.35%.

BlackRock Company 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.