BlackRock, Inc. (NYSE:BLK) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,765 shares of the asset manager’s stock after selling 916 shares during the period. Cullen Investment Group LTD.’s holdings in BlackRock were worth $4,524,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BLK. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the first quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the 4th quarter worth $28,000. Fairscale Capital LLC acquired a new stake in BlackRock in the 2nd quarter valued at $31,000. Lam Group Inc. purchased a new position in BlackRock in the first quarter valued at about $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock during the fourth quarter worth about $35,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BLK traded down $2.30 during midday trading on Friday, hitting $949.19. 491,906 shares of the stock traded hands, compared to its average volume of 575,968. The business’s 50 day moving average price is $890.01 and its two-hundred day moving average price is $826.50. The firm has a market capitalization of $141.05 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.05 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. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $960.74.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.28 EPS. Equities research analysts predict that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. StockNews.com initiated coverage on BlackRock in a report on Friday. They set a “hold” rating on the stock. 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 research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $932.71.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by company 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.