BlackRock, Inc. (NYSE:BLK) Shares Acquired by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,316 shares of the asset manager’s stock after acquiring an additional 14 shares during the period. Semmax Financial Advisors Inc.’s holdings in BlackRock were worth $3,689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter valued at about $27,000. Pineridge Advisors LLC purchased a new position in BlackRock in the fourth quarter valued at about $28,000. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter valued at approximately $31,000. Lam Group Inc. purchased a new stake in BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value 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 approximately $298,272,703.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on BLK shares. Barclays lifted their price target on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. TD Cowen lowered their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price on the stock. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Trading Up 1.0 %

Shares of BLK stock opened at $937.94 on Tuesday. The stock has a 50-day simple moving average of $870.85 and a 200 day simple moving average of $818.55. The stock has a market capitalization of $139.38 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73. 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 announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.28 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.17%. BlackRock’s payout ratio is presently 51.84%.

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.