BlackRock, Inc. (NYSE:BLK) Shares Sold by Swedbank AB

Swedbank AB lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 0.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,756 shares of the asset manager’s stock after selling 58 shares during the period. Swedbank AB owned approximately 0.07% of BlackRock worth $97,568,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $27,000. Fairscale Capital LLC purchased a new position in BlackRock in the second quarter worth approximately $31,000. Chilton Capital Management LLC purchased a new position in BlackRock in the first quarter worth approximately $38,000. Olistico Wealth LLC purchased a new position in BlackRock in the second quarter worth approximately $53,000. Finally, ORG Partners LLC lifted its stake in BlackRock by 257.9% in the second quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 1.5 %

BLK stock opened at $1,007.00 on Wednesday. The company has a fifty day moving average price of $905.97 and a 200 day moving average price of $833.68. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,016.45. The company has a market cap of $149.64 billion, a price-to-earnings ratio of 25.59, 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 current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during 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 for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.91 EPS. Sell-side analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders 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 annualized dividend and a yield of 2.03%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction 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 in the company, 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 three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of BlackRock in a research note on Saturday. They issued a “hold” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Citigroup boosted their price objective 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. Finally, Evercore ISI boosted their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $991.46.

BlackRock 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.