Matrix Trust Co Purchases 24 Shares of BlackRock, Inc. (NYSE:BLK)

Matrix Trust Co lifted its position in BlackRock, Inc. (NYSE:BLK) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,599 shares of the asset manager’s stock after acquiring an additional 24 shares during the period. Matrix Trust Co’s holdings in BlackRock were worth $1,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ethic Inc. grew its stake in shares of BlackRock by 7.5% in the fourth quarter. Ethic Inc. now owns 7,044 shares of the asset manager’s stock worth $5,719,000 after acquiring an additional 492 shares during the last quarter. RMB Capital Management LLC increased its position in BlackRock by 16.3% during the fourth quarter. RMB Capital Management LLC now owns 11,762 shares of the asset manager’s stock valued at $9,549,000 after acquiring an additional 1,649 shares during the last quarter. Washington Trust Bank purchased a new position in BlackRock in the fourth quarter worth about $243,000. Midland Wealth Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter valued at about $2,267,000. Finally, Concentric Wealth Management LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % 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. In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group upped their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. UBS Group reduced their price objective 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. Finally, Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $948.93.

BlackRock Trading Up 0.6 %

NYSE BLK traded up $5.58 during trading on Thursday, hitting $961.50. The stock had a trading volume of 72,927 shares, compared to its average volume of 572,361. BlackRock, Inc. has a one year low of $596.18 and a one year high of $962.95. The stock has a market capitalization of $142.88 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 2.05 and a beta of 1.30. The stock has a 50 day simple moving average of $894.70 and a 200 day simple moving average of $829.20. 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 (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the firm earned $9.28 earnings per share. BlackRock’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.12%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

BlackRock 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.