Smith Chas P & Associates PA Cpas Invests $216,000 in BlackRock, Inc. (NYSE:BLK)

Smith Chas P & Associates PA Cpas purchased a new position in BlackRock, Inc. (NYSE:BLK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 228 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in BLK. Capital Research Global Investors lifted its position in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after buying an additional 414,300 shares in the last quarter. Vanguard Group Inc. lifted its position in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares in the last quarter. M&G Plc purchased a new position in BlackRock during the first quarter worth approximately $161,918,000. Finally, Sarasin & Partners LLP lifted its position in BlackRock by 174.8% during the second quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after buying an additional 117,218 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI lifted their target price on BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $972.23.

BlackRock Trading Up 3.6 %

BLK opened at $990.26 on Monday. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $996.29. The stock has a market capitalization of $147.15 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a fifty day moving average price of $899.39 and a 200 day moving average price of $831.33.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 EPS. Sell-side analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.06%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Laurence Fink sold 29,450 shares of the company’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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This trade represents 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 valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

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.