BlackRock, Inc. (NYSE:BLK) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 45.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400 shares of the asset manager’s stock after selling 329 shares during the period. Principal Street Partners LLC’s holdings in BlackRock were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Reilly Financial Advisors LLC lifted its position in BlackRock by 171.4% in the third quarter. Reilly Financial Advisors LLC now owns 38 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 24 shares during the period. Capital Directions Investment Advisors LLC lifted its position in shares of BlackRock by 87.0% during the 3rd quarter. Capital Directions Investment Advisors LLC now owns 43 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 20 shares during the period. Costello Asset Management INC acquired a new stake in shares of BlackRock during the 3rd quarter valued at approximately $38,000. Financial Management Professionals Inc. lifted its position in shares of BlackRock by 108.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 48 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 25 shares during the period. Finally, Clean Yield Group lifted its position in shares of BlackRock by 47.5% during the 3rd quarter. Clean Yield Group now owns 59 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 77.94% of the company’s stock.

In related news, CEO Laurence Fink sold 22,247 shares of the business’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $925.68, for a total transaction of $20,593,602.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 405 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $964.45, for a total transaction of $390,602.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,017 shares of company stock valued at $36,055,061. Insiders own 1.16% of the company’s stock.

Shares of BLK stock opened at $855.89 on Friday. BlackRock, Inc. has a 12 month low of $670.28 and a 12 month high of $973.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.04 and a quick ratio of 3.04. The firm has a market capitalization of $130.03 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.89 and a beta of 1.17. The company’s fifty day moving average price is $918.68 and its two-hundred day moving average price is $903.33.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 14th. The asset manager reported $10.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.15 by $0.27. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.15 billion. BlackRock had a net margin of 30.97% and a return on equity of 16.72%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.18 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 39.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Tuesday, December 7th were paid a $4.13 dividend. The ex-dividend date was Monday, December 6th. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.93%. BlackRock’s dividend payout ratio (DPR) is presently 43.94%.

A number of equities research analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $1,141.00 to $1,123.00 in a research report on Thursday. Evercore ISI reiterated a “buy” rating and set a $956.00 price target on shares of BlackRock in a research report on Thursday, October 14th. Citigroup lifted their price objective on BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a research report on Thursday, October 14th. Morgan Stanley lifted their price objective on BlackRock from $1,026.00 to $1,051.00 and gave the stock an “overweight” rating in a research report on Friday, January 7th. Finally, Bank of America began coverage on BlackRock in a research report on Thursday, December 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $987.71.

BlackRock Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)