Baldwin Investment Management LLC Sells 114 Shares of BlackRock, Inc. (NYSE:BLK)

Baldwin Investment Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,958 shares of the asset manager’s stock after selling 114 shares during the quarter. BlackRock makes up 0.6% of Baldwin Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Baldwin Investment Management LLC’s holdings in BlackRock were worth $4,708,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BLK. BNP Paribas Financial Markets boosted its position in shares of BlackRock by 48.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock valued at $320,148,000 after acquiring an additional 109,771 shares in the last quarter. Shum Financial Group Inc. acquired a new stake in BlackRock during the third quarter valued at approximately $2,182,000. Avestar Capital LLC raised its holdings in shares of BlackRock by 16.6% in the 3rd quarter. Avestar Capital LLC now owns 876 shares of the asset manager’s stock worth $832,000 after buying an additional 125 shares in the last quarter. Covington Investment Advisors Inc. lifted its position in shares of BlackRock by 0.7% during the 3rd quarter. Covington Investment Advisors Inc. now owns 14,933 shares of the asset manager’s stock worth $14,179,000 after buying an additional 104 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in BlackRock by 27.5% in the 3rd quarter. D.A. Davidson & CO. now owns 8,609 shares of the asset manager’s stock valued at $8,174,000 after buying an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BLK shares. Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays boosted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value 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 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

BlackRock Trading Down 0.5 %

Shares of BLK opened at $1,026.24 on Wednesday. The stock’s fifty day simple moving average is $989.43 and its 200-day simple moving average is $884.21. The firm has a market capitalization of $158.94 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $724.54 and a 12-month high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its 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. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.91 EPS. As a group, research analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

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.