Dynamic Advisor Solutions LLC Trims Position in BlackRock, Inc. (NYSE:BLK)

Dynamic Advisor Solutions LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,184 shares of the asset manager’s stock after selling 44 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in BlackRock were worth $5,872,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares during the period. Capital Research Global Investors raised its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of BlackRock by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock worth $1,636,052,000 after buying an additional 47,128 shares in the last quarter. Ameriprise Financial Inc. grew its stake in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of NYSE BLK opened at $949.07 on Wednesday. The company has a market cap of $141.03 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $960.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s 50 day moving average price is $891.57 and its 200-day moving average price is $827.42.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.28 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.15%. BlackRock’s payout ratio is currently 51.84%.

Analysts Set New Price Targets

A number of research firms recently commented on BLK. TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their price target on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company assumed coverage on shares of BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Finally, UBS Group decreased their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $943.93.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on 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 in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last three months. 0.90% of the stock is owned by company 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.