BlackRock, Inc. (NYSE:BLK) Shares Acquired by Sara Bay Financial

Sara Bay Financial boosted its stake in BlackRock, Inc. (NYSE:BLK) by 33.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,115 shares of the asset manager’s stock after buying an additional 280 shares during the period. BlackRock accounts for approximately 0.4% of Sara Bay Financial’s investment portfolio, making the stock its 27th largest holding. Sara Bay Financial’s holdings in BlackRock were worth $1,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Waterloo Capital L.P. purchased a new stake in shares of BlackRock in the 4th quarter valued at approximately $405,000. Seven Eight Capital LP bought a new stake in BlackRock in the 4th quarter valued at $1,408,000. Ossiam raised its holdings in BlackRock by 10.8% in the 4th quarter. Ossiam now owns 2,490 shares of the asset manager’s stock valued at $2,021,000 after acquiring an additional 242 shares in the last quarter. Elo Mutual Pension Insurance Co raised its stake in shares of BlackRock by 4.0% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 13,035 shares of the asset manager’s stock valued at $10,582,000 after purchasing an additional 500 shares in the last quarter. Finally, XML Financial LLC lifted its stake in BlackRock by 15.4% during the fourth quarter. XML Financial LLC now owns 411 shares of the asset manager’s stock worth $333,000 after purchasing an additional 55 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction 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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The trade was 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, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by company insiders.

BlackRock Price Performance

BlackRock stock traded down $8.66 during mid-day trading on Monday, reaching $940.53. The company had a trading volume of 561,385 shares, compared to its average volume of 575,893. The business has a fifty day simple moving average of $890.01 and a 200 day simple moving average of $826.73. The company has a market cap of $139.76 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.05 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, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $960.74.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. During the same quarter in the previous year, the company posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BLK. Keefe, Bruyette & Woods raised their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Citigroup raised their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Morgan Stanley lifted their price target on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $943.93.

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.