Atomi Financial Group Inc. Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Atomi Financial Group Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 28.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,593 shares of the asset manager’s stock after purchasing an additional 352 shares during the period. Atomi Financial Group Inc.’s holdings in BlackRock were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter valued at about $27,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter valued at about $28,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at about $31,000. Lam Group Inc. acquired a new stake in shares of BlackRock in the 1st quarter valued at about $33,000. Finally, Fairman Group LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at about $35,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the firm’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 approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. 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 worth $79,387,117 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.9 %

BlackRock stock opened at $949.07 on Wednesday. The company has a 50 day moving average price of $891.57 and a 200 day moving average price of $827.42. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $960.74. 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 capitalization of $141.03 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $9.28 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. TD Cowen cut their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Evercore ISI upped their target price on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup increased their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $943.93.

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.