Thrive Wealth Management LLC Trims Holdings in BlackRock, Inc. (NYSE:BLK)

Thrive Wealth Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 358 shares of the asset manager’s stock after selling 24 shares during the period. Thrive Wealth Management LLC’s holdings in BlackRock were worth $340,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC increased its holdings in BlackRock by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,564 shares of the asset manager’s stock valued at $2,893,000 after buying an additional 22 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in BlackRock by 8.4% during the fourth quarter. CWA Asset Management Group LLC now owns 336 shares of the asset manager’s stock worth $273,000 after purchasing an additional 26 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of BlackRock by 1.3% in the 4th quarter. Stephens Inc. AR now owns 7,271 shares of the asset manager’s stock valued at $5,903,000 after buying an additional 93 shares during the period. Vinva Investment Management Ltd bought a new stake in shares of BlackRock during the 4th quarter valued at about $4,128,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in BlackRock during the fourth quarter worth about $296,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BLK shares. The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company started coverage on shares of BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their price target 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $928.40.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, 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 SEC, which can be accessed through this hyperlink. In other 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 transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

Shares of BLK stock traded down $2.30 during mid-day trading on Friday, hitting $949.19. 489,737 shares of the stock traded hands, compared to its average volume of 575,968. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $141.05 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The company’s 50-day simple moving average is $890.01 and its 200-day simple moving average is $826.50. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $960.74.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company earned $9.28 EPS. BlackRock’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

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.