Drive Wealth Management LLC Sells 99 Shares of BlackRock, Inc. (NYSE:BLK)

Drive Wealth Management LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 15.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 538 shares of the asset manager’s stock after selling 99 shares during the quarter. Drive Wealth Management LLC’s holdings in BlackRock were worth $551,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after buying an additional 42,757 shares in the last quarter. Geode Capital Management LLC grew its position in BlackRock by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares in the last quarter. FMR LLC grew its holdings in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after acquiring an additional 40,865 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $1,020.19 on Monday. The stock has a fifty day moving average price of $1,024.23 and a 200-day moving average price of $954.96. The company has a market cap of $158.01 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm posted $9.66 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s dividend payout ratio is currently 48.57%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BLK shares. Evercore ISI raised their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group lifted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley lifted their price target on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays reduced their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,190 shares of company stock worth $104,436,741 in the last ninety days. 0.90% of the stock is owned by insiders.

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.