Leo Wealth LLC Sells 3,761 Shares of BlackRock, Inc. (NYSE:BLK)

Leo Wealth LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 33.2% during the third quarter, HoldingsChannel reports. The firm owned 7,583 shares of the asset manager’s stock after selling 3,761 shares during the quarter. Leo Wealth LLC’s holdings in BlackRock were worth $7,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Eastern Bank grew its position in shares of BlackRock by 65.4% in the 3rd quarter. Eastern Bank now owns 50,259 shares of the asset manager’s stock valued at $47,722,000 after purchasing an additional 19,871 shares during the period. Sequoia Financial Advisors LLC lifted its stake in BlackRock by 14.1% in the third quarter. Sequoia Financial Advisors LLC now owns 17,626 shares of the asset manager’s stock valued at $16,736,000 after buying an additional 2,183 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of BlackRock by 16.7% in the third quarter. Oakworth Capital Inc. now owns 894 shares of the asset manager’s stock valued at $849,000 after buying an additional 128 shares during the period. Foundations Investment Advisors LLC raised its holdings in shares of BlackRock by 9.8% during the third quarter. Foundations Investment Advisors LLC now owns 996 shares of the asset manager’s stock worth $945,000 after acquiring an additional 89 shares during the period. Finally, Ledyard National Bank lifted its position in BlackRock by 14.0% in the 3rd quarter. Ledyard National Bank now owns 1,108 shares of the asset manager’s stock valued at $1,052,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Argus boosted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI lifted their target price on BlackRock from $995.00 to $1,040.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Stock Performance

BLK traded up $1.22 on Tuesday, reaching $1,001.75. The company had a trading volume of 198,667 shares, compared to its average volume of 574,688. The stock has a market cap of $148.86 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.94 and a beta of 1.30. 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 fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The company’s fifty day moving average is $918.70 and its 200 day moving average is $839.13.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the company posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm 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. This represents a $20.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’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 owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction 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 sale, the director now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 in the last quarter. 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.