Blue Trust Inc. Purchases 221 Shares of BlackRock, Inc. (NYSE:BLK)

Blue Trust Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 32.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 899 shares of the asset manager’s stock after purchasing an additional 221 shares during the period. Blue Trust Inc.’s holdings in BlackRock were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BLK. Axxcess Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake 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 buying an additional 14,477 shares during the period. Oak Harvest Investment Services bought a new stake in shares of BlackRock in the first quarter valued at about $6,735,000. Cetera Investment Advisers grew 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 acquiring an additional 30,274 shares in the last quarter. Finally, M&G Plc purchased a new position in BlackRock during the 1st quarter valued at about $161,918,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction 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 directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 in the last 90 days. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.5 %

Shares of NYSE:BLK opened at $1,007.02 on Monday. The business has a 50 day moving average of $915.45 and a two-hundred day moving average of $837.66. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00. The company has a market capitalization of $149.64 billion, a PE ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders 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 dividend yield of 2.03%. BlackRock’s dividend payout ratio is currently 51.84%.

Analysts Set New Price Targets

BLK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com started coverage on BlackRock in a research report on Sunday. They set a “hold” rating on the stock. Evercore ISI boosted their price target on BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the 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.