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

Thrive Wealth Management LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 358 shares of the asset manager’s stock after selling 24 shares during the period. Thrive Wealth Management LLC’s holdings in BlackRock were worth $340,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BLK. XML Financial LLC grew its holdings in shares of BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in BlackRock by 6.1% during the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after acquiring an additional 13 shares during the period. Forza Wealth Management LLC grew its stake in shares of BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after purchasing an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 13 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in shares of BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.2 %

BLK traded down $2.30 during midday trading on Friday, hitting $949.19. The company’s stock had a trading volume of 489,737 shares, compared to its average volume of 575,968. The firm has a market cap of $141.05 billion, a P/E ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $960.74. 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 50-day moving average price of $890.01 and a two-hundred day moving average price of $826.50.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on 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 $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated 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 directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen lowered their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $928.40.

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.