Baldwin Investment Management LLC Has $4.71 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Baldwin Investment Management LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,958 shares of the asset manager’s stock after selling 114 shares during the period. BlackRock makes up approximately 0.6% of Baldwin Investment Management LLC’s holdings, making the stock its 23rd biggest holding. Baldwin Investment Management LLC’s holdings in BlackRock were worth $4,708,000 as of its most recent SEC filing.

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

BlackRock Stock Down 0.5 %

BLK stock opened at $1,026.24 on Wednesday. BlackRock, Inc. has a 1-year low of $724.54 and a 1-year high of $1,068.34. The business’s 50 day simple moving average is $989.43 and its 200 day simple moving average is $884.21. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $158.94 billion, a PE ratio of 25.33, a PEG ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $10.91 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley lifted 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 started coverage on shares of BlackRock in a research note on Thursday, November 21st. They set a “hold” rating for the company. Finally, TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

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.