Bleakley Financial Group LLC Trims Holdings in BlackRock, Inc. (NYSE:BLK)

Bleakley Financial Group LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,581 shares of the asset manager’s stock after selling 53 shares during the quarter. Bleakley Financial Group LLC’s holdings in BlackRock were worth $3,400,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Redmont Wealth Advisors LLC bought a new position in BlackRock in the 1st quarter worth about $27,000. Fairscale Capital LLC purchased a new position in BlackRock during the 2nd quarter worth $31,000. Chilton Capital Management LLC bought a new stake in BlackRock during the 1st quarter valued at $38,000. Olistico Wealth LLC purchased a new stake in shares of BlackRock in the 2nd quarter worth $53,000. Finally, ORG Partners LLC grew its position in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after buying an additional 49 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on BLK shares. StockNews.com began coverage on shares of BlackRock in a research note on Saturday, October 12th. They issued a “hold” rating for the company. Citigroup increased 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. Morgan Stanley boosted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays increased their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $991.46.

BlackRock Price Performance

Shares of BLK stock opened at $1,007.02 on Friday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market capitalization of $149.64 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The stock’s 50-day simple moving average is $915.45 and its 200-day simple moving average is $837.36.

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

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.