E&G Advisors LP Sells 200 Shares of BlackRock, Inc. (NYSE:BLK)

E&G Advisors LP reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,024 shares of the asset manager’s stock after selling 200 shares during the quarter. E&G Advisors LP’s holdings in BlackRock were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock during the 1st quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at $38,000. City Holding Co. acquired a new stake in shares of BlackRock during the 3rd quarter valued at $55,000. Finally, Olistico Wealth LLC bought a new stake in BlackRock during the 2nd quarter worth $53,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.5 %

BlackRock stock opened at $1,007.02 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $149.64 billion, a PE ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The firm’s fifty day moving average is $915.45 and its 200 day moving average is $837.50. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00.

BlackRock (NYSE:BLK) last issued its 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. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $10.91 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was 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 $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred 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 in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

BLK has been the topic of a number of recent research reports. Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. 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 note on Tuesday, July 16th. Finally, Wells Fargo & Company raised their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company 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.