Stonegate Investment Group LLC Purchases 13 Shares of BlackRock, Inc. (NYSE:BLK)

Stonegate Investment Group LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,422 shares of the asset manager’s stock after acquiring an additional 13 shares during the quarter. Stonegate Investment Group LLC’s holdings in BlackRock were worth $5,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Claro Advisors LLC boosted its stake in shares of BlackRock by 249.6% during the 3rd quarter. Claro Advisors LLC now owns 5,834 shares of the asset manager’s stock worth $5,539,000 after buying an additional 4,165 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its holdings in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in BlackRock by 1.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,329 shares of the asset manager’s stock valued at $16,454,000 after purchasing an additional 299 shares during the last quarter. Trust Co. of Vermont grew its stake in BlackRock by 2.3% in the third quarter. Trust Co. of Vermont now owns 29,339 shares of the asset manager’s stock valued at $27,858,000 after purchasing an additional 666 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of BlackRock by 7.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,779 shares of the asset manager’s stock worth $4,537,000 after purchasing an additional 351 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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 report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $991.46.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated 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 owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 over the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.1 %

Shares of BlackRock stock traded down $0.80 during trading hours on Friday, reaching $1,001.70. The company’s stock had a trading volume of 95,271 shares, compared to its average volume of 575,823. 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’s fifty day simple moving average is $912.43 and its two-hundred day simple moving average is $836.11. The company has a market capitalization of $148.85 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $1,032.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock’s payout ratio is presently 51.84%.

About BlackRock

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.