Good Life Advisors LLC Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Good Life Advisors LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 50.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 816 shares of the asset manager’s stock after buying an additional 272 shares during the quarter. Good Life Advisors LLC’s holdings in BlackRock were worth $775,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BLK. Capital Research Global Investors increased its position in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of BlackRock by 24,171.5% in the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after buying an additional 414,300 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the period. M&G Plc purchased a new stake in BlackRock in the 1st quarter worth approximately $161,918,000. Finally, Sarasin & Partners LLP raised its holdings in BlackRock by 174.8% in the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after acquiring an additional 117,218 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BLK shares. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com started coverage on shares of BlackRock in a report on Saturday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $991.46.

BlackRock Stock Performance

BlackRock stock opened at $1,007.02 on Friday. The firm has a market capitalization of $149.64 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00. The stock’s 50 day moving average price is $915.45 and its 200 day moving average price is $837.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last announced its 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $10.91 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced 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. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is currently owned by corporate insiders.

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.