Creative Planning Buys 1,353 Shares of BlackRock, Inc. (NYSE:BLK)

Creative Planning boosted its stake in BlackRock, Inc. (NYSE:BLK) by 6.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,217 shares of the asset manager’s stock after acquiring an additional 1,353 shares during the quarter. Creative Planning’s holdings in BlackRock were worth $22,044,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Vanguard Group Inc. increased its stake in BlackRock by 2.3% in the 1st 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 last quarter. M&G Plc acquired a new stake in BlackRock in the 1st quarter valued at $161,918,000. Sarasin & Partners LLP increased its stake 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 buying an additional 117,218 shares during the last quarter. Finally, Swedbank AB acquired a new stake in BlackRock in the 1st quarter valued at $86,282,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock valued at $56,857,777 in the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,007.02 on Monday. The company has a market capitalization of $149.64 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. 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 company has a 50-day simple moving average of $915.45 and a 200 day simple moving average of $837.66. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.91 EPS. On average, sell-side analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Evercore ISI boosted their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $991.46.

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.