BlackRock, Inc. (NYSE:BLK) Stock Position Lifted by Community Financial Services Group LLC

Community Financial Services Group LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,768 shares of the asset manager’s stock after buying an additional 79 shares during the quarter. Community Financial Services Group LLC’s holdings in BlackRock were worth $4,527,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BLK. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the first quarter valued at $27,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the second quarter valued at $31,000. Chilton Capital Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at $38,000. Olistico Wealth LLC acquired a new stake in shares of BlackRock in the second quarter valued at $53,000. Finally, ORG Partners LLC lifted its holdings in shares of BlackRock by 257.9% in the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock valued at $54,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BLK shares. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company upped their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group reduced their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Stock Performance

Shares of BLK stock opened at $1,000.53 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The stock’s 50-day moving average is $918.70 and its two-hundred day moving average is $839.13. The firm has a market cap of $148.68 billion, a P/E ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30.

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

BlackRock Dividend Announcement

The company 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. This represents a $20.40 annualized dividend and a yield of 2.04%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is currently 51.84%.

About BlackRock

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.