Genesee Capital Advisors LLC Sells 61 Shares of BlackRock, Inc. (NYSE:BLK)

Genesee Capital Advisors LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,556 shares of the asset manager’s stock after selling 61 shares during the quarter. Genesee Capital Advisors LLC’s holdings in BlackRock were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of BLK. 1858 Wealth Management LLC bought a new position in shares of BlackRock during the third quarter worth $230,000. Toth Financial Advisory Corp boosted its position in shares of BlackRock by 1.4% during the third quarter. Toth Financial Advisory Corp now owns 9,703 shares of the asset manager’s stock worth $9,213,000 after acquiring an additional 134 shares during the last quarter. Marino Stram & Associates LLC boosted its position in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares during the last quarter. Prio Wealth Limited Partnership purchased a new stake in BlackRock during the third quarter valued at $229,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in BlackRock by 34.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 429 shares of the asset manager’s stock valued at $407,000 after purchasing an additional 111 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Down 0.6 %

BlackRock stock traded down $6.37 during midday trading on Monday, hitting $1,000.65. 137,374 shares of the company’s stock were exchanged, compared to its average volume of 575,672. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The firm has a 50-day moving average of $915.45 and a two-hundred day moving average of $837.66. The company has a market cap of $148.70 billion, a PE ratio of 25.56, a P/E/G ratio of 1.94 and a beta of 1.30.

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, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business earned $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com assumed coverage on shares of BlackRock in a research note on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company increased their target price 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $995.31.

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.