Legacy Wealth Management LLC MS Purchases 103 Shares of BlackRock, Inc. (NYSE:BLK)

Legacy Wealth Management LLC MS lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 603 shares of the asset manager’s stock after acquiring an additional 103 shares during the period. Legacy Wealth Management LLC MS’s holdings in BlackRock were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Erste Asset Management GmbH bought a new stake in shares of BlackRock during the 3rd quarter worth approximately $32,904,000. Raymond James Trust N.A. lifted its holdings in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares during the period. MML Investors Services LLC lifted its holdings in shares of BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after acquiring an additional 1,852 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in BlackRock by 1.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 117,299 shares of the asset manager’s stock valued at $111,377,000 after purchasing an additional 2,208 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.83, for a total transaction of $18,824,940.00. Following the completion of the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at approximately $9,023,421.24. This represents a 67.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,190 shares of company stock valued at $113,161,681. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several research reports. StockNews.com initiated coverage on shares of BlackRock in a research note on Saturday, December 7th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays raised their price target on shares of BlackRock from $1,120.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,039.17.

BlackRock Stock Performance

Shares of BLK traded down $1.16 during trading hours on Friday, hitting $1,057.66. The company’s stock had a trading volume of 126,552 shares, compared to its average volume of 585,769. The company has a market cap of $163.81 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 1.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a 50 day simple moving average of $1,013.18 and a two-hundred day simple moving average of $902.97. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping 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 31.37% and a return on equity of 15.52%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $10.91 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.93%. BlackRock’s dividend payout ratio is currently 50.35%.

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.