BlackRock, Inc. (NYSE:BLK) Shares Sold by Activest Wealth Management

Activest Wealth Management lowered its stake in BlackRock, Inc. (NYSE:BLK) by 62.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70 shares of the asset manager’s stock after selling 117 shares during the quarter. Activest Wealth Management’s holdings in BlackRock were worth $67,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Fairscale Capital LLC purchased a new position in shares of BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC raised its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC boosted its holdings in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in BlackRock during the second quarter worth about $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com initiated coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating on the stock. 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 research note on Monday, October 14th. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

Shares of BLK traded up $2.34 on Thursday, reaching $1,027.01. The stock had a trading volume of 32,440 shares, compared to its average volume of 572,835. The firm has a 50-day moving average of $978.33 and a 200 day moving average of $876.59. The firm has a market capitalization of $159.06 billion, a PE ratio of 25.29, a PEG ratio of 1.83 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $724.54 and a twelve 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 released its quarterly 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 return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company posted $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Buying and Selling at BlackRock

In other news, 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 transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.