Evexia Wealth LLC Trims Stock Position in BlackRock, Inc. (NYSE:BLK)

Evexia Wealth LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,002 shares of the asset manager’s stock after selling 526 shares during the quarter. BlackRock comprises approximately 4.7% of Evexia Wealth LLC’s investment portfolio, making the stock its largest holding. Evexia Wealth LLC’s holdings in BlackRock were worth $13,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $27,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $28,000. Fairscale Capital LLC purchased a new position in shares of BlackRock during the second quarter valued at approximately $31,000. Lam Group Inc. purchased a new position in BlackRock during the 1st quarter worth $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock in the 4th quarter worth about $35,000. Institutional investors own 80.69% of the company’s stock.

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 sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade 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. In other news, Director Pamela Daley sold 1,531 shares of BlackRock 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 in the last three months. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BLK shares. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group raised their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Argus lifted their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $972.23.

BlackRock Price Performance

Shares of BLK stock traded up $34.67 during trading hours on Friday, hitting $990.26. 927,686 shares of the company’s stock were exchanged, compared to its average volume of 576,480. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $996.29. The business’s 50 day simple moving average is $899.39 and its 200-day simple moving average is $831.29. The company has a market capitalization of $147.15 billion, a PE ratio of 25.17, a PEG ratio of 1.94 and a beta of 1.30.

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

BlackRock Dividend Announcement

The company 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 2.06%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

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.