First Pacific Financial Purchases 16 Shares of BlackRock, Inc. (NYSE:BLK)

First Pacific Financial grew its position in BlackRock, Inc. (NYSE:BLK) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,234 shares of the asset manager’s stock after purchasing an additional 16 shares during the quarter. First Pacific Financial’s holdings in BlackRock were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC boosted its position in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of BlackRock during the first quarter worth $6,735,000. Cetera Investment Advisers boosted its position in shares of BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after acquiring an additional 30,274 shares during the last quarter. Finally, M&G Plc bought a new position in shares of BlackRock during the first quarter worth $161,918,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 1.5 %

BlackRock stock traded up $15.28 during midday trading on Tuesday, hitting $1,007.00. 618,744 shares of the company’s stock were exchanged, compared to its average volume of 577,834. 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 12 month low of $596.18 and a 12 month high of $1,016.45. The firm has a 50-day moving average of $902.62 and a two-hundred day moving average of $832.46. The company has a market cap of $149.64 billion, a PE ratio of 25.20, a P/E/G ratio of 1.94 and a beta of 1.30.

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

BlackRock Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BLK. Citigroup upped their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley increased their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com started coverage on shares of BlackRock in a report on Saturday. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred 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 directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This 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 have sold 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

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.