Steigerwald Gordon & Koch Inc. Buys New Position in BlackRock, Inc. (NYSE:BLK)

Steigerwald Gordon & Koch Inc. purchased a new position in BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 218 shares of the asset manager’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Axxcess Wealth Management LLC grew its position in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after purchasing an additional 14,477 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of BlackRock in the 1st quarter valued at $6,735,000. Cetera Investment Advisers raised its holdings in BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after buying an additional 30,274 shares during the period. Finally, M&G Plc purchased a new stake in BlackRock during the first quarter valued at about $161,918,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated 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 sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $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. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BlackRock stock traded up $5.59 during mid-day trading on Thursday, reaching $961.51. The company had a trading volume of 84,409 shares, compared to its average volume of 572,419. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $142.88 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.05 and a beta of 1.30. The company has a 50 day moving average of $894.70 and a 200-day moving average of $829.20. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $963.33.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business earned $9.28 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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. 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 2.12%. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLK shares. Morgan Stanley boosted their price target on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. StockNews.com started coverage on BlackRock in a research report on Friday, October 4th. They set a “hold” rating on the stock. Argus raised their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Barclays upped their target price on BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $956.64.

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.