CX Institutional Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

CX Institutional grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 425 shares of the asset manager’s stock after acquiring an additional 19 shares during the period. CX Institutional’s holdings in BlackRock were worth $404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth approximately $38,000. Olistico Wealth LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $53,000. Finally, ORG Partners LLC raised its position in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on BLK shares. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $991.46.

Insider Buying and Selling

In related news, 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 transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,527,116. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,042 shares of company stock valued at $56,857,777. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.4 %

Shares of NYSE BLK opened at $1,001.88 on Friday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00. The firm has a fifty day moving average of $912.43 and a 200-day moving average of $836.11. The stock has a market capitalization of $148.88 billion, a PE ratio of 25.46, a P/E/G 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 (NYSE:BLK) last announced its quarterly earnings data 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company earned $10.91 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 yield of 2.04%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.