Mirador Capital Partners LP Reduces Position in BlackRock, Inc. (NYSE:BLK)

Mirador Capital Partners LP lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,522 shares of the asset manager’s stock after selling 35 shares during the quarter. BlackRock accounts for 0.9% of Mirador Capital Partners LP’s portfolio, making the stock its 27th largest position. Mirador Capital Partners LP’s holdings in BlackRock were worth $5,243,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BLK. Rockland Trust Co. boosted its holdings in shares of BlackRock by 1.2% in the 3rd quarter. Rockland Trust Co. now owns 27,277 shares of the asset manager’s stock valued at $25,900,000 after acquiring an additional 328 shares during the last quarter. Farmers Trust Co. raised its stake in shares of BlackRock by 7.6% during the 3rd quarter. Farmers Trust Co. now owns 282 shares of the asset manager’s stock valued at $268,000 after buying an additional 20 shares during the last quarter. Czech National Bank lifted its holdings in shares of BlackRock by 6.6% in the 3rd quarter. Czech National Bank now owns 28,364 shares of the asset manager’s stock valued at $26,932,000 after buying an additional 1,745 shares during the period. Trust Co. of Toledo NA OH boosted its stake in shares of BlackRock by 12.1% in the third quarter. Trust Co. of Toledo NA OH now owns 2,022 shares of the asset manager’s stock worth $1,920,000 after buying an additional 218 shares during the last quarter. Finally, Weybosset Research & Management LLC acquired a new stake in BlackRock during the third quarter worth about $218,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Down 0.2 %

NYSE BLK traded down $2.30 during trading hours on Friday, reaching $949.19. The company had a trading volume of 491,906 shares, compared to its average volume of 575,968. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $960.74. The stock has a market capitalization of $141.05 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The stock has a 50-day moving average of $890.01 and a 200 day moving average of $826.50. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its 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. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the company earned $9.28 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 41.37 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com began coverage on BlackRock in a research report on Friday. They set a “hold” rating on the stock. TD Cowen reduced their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Morgan Stanley dropped their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $932.71.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the company’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 sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on 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 of the company’s stock, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

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.