Global Retirement Partners LLC Raises Position in BlackRock, Inc. (NYSE:BLK)

Global Retirement Partners LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,779 shares of the asset manager’s stock after buying an additional 351 shares during the quarter. Global Retirement Partners LLC’s holdings in BlackRock were worth $4,537,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Good Life Advisors LLC raised its position in BlackRock by 50.0% in the 3rd quarter. Good Life Advisors LLC now owns 816 shares of the asset manager’s stock worth $775,000 after buying an additional 272 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in shares of BlackRock by 2.1% during the third quarter. Hengehold Capital Management LLC now owns 5,341 shares of the asset manager’s stock valued at $5,071,000 after purchasing an additional 111 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in BlackRock during the third quarter valued at approximately $2,555,000. Leisure Capital Management boosted its holdings in BlackRock by 2.3% in the third quarter. Leisure Capital Management now owns 1,493 shares of the asset manager’s stock worth $1,418,000 after purchasing an additional 33 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in BlackRock by 1.2% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 1,891 shares of the asset manager’s stock worth $1,796,000 after purchasing an additional 23 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Down 1.4 %

Shares of BLK stock opened at $1,001.88 on Friday. 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 stock has a fifty day simple moving average of $912.43 and a two-hundred day simple moving average of $836.11. The firm has a market capitalization of $148.88 billion, a PE ratio of 25.46, a PEG ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the business posted $10.91 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction 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 sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The trade was 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. In other news, Director Pamela Daley sold 1,531 shares of the company’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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,042 shares of company stock worth $56,857,777. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays increased their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Evercore ISI raised their price objective on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Citigroup increased their price target 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.