Smith Chas P & Associates PA Cpas acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 228 shares of the asset manager’s stock, valued at approximately $216,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in BlackRock during the 1st quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the 4th quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new stake in BlackRock during the 2nd quarter valued at approximately $31,000. Lam Group Inc. purchased a new position in shares of BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $35,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
BlackRock Price Performance
Shares of NYSE:BLK opened at $990.26 on Monday. The business’s fifty day moving average price is $899.39 and its two-hundred day moving average price is $831.33. The stock has a market cap of $147.15 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $996.29.
BlackRock Announces Dividend
The business 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 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Evercore ISI increased their target price on BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Argus increased their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $972.23.
View Our Latest Analysis on BlackRock
Insider Buying and Selling at BlackRock
In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 27,000 shares of the firm’s 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 sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by insiders.
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.
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