Sara Bay Financial Has $1.06 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Sara Bay Financial increased its holdings in BlackRock, Inc. (NYSE:BLK) by 33.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,115 shares of the asset manager’s stock after buying an additional 280 shares during the period. BlackRock accounts for 0.4% of Sara Bay Financial’s holdings, making the stock its 27th largest position. Sara Bay Financial’s holdings in BlackRock were worth $1,059,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its position in BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in BlackRock by 24,171.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after purchasing an additional 414,300 shares in the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 292,017 shares in the last quarter. M&G Plc purchased a new position in BlackRock during the first quarter worth about $161,918,000. Finally, Mubadala Investment Co PJSC purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $147,748,000. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

NYSE:BLK traded down $8.66 during mid-day trading on Monday, hitting $940.53. The company’s stock had a trading volume of 561,385 shares, compared to its average volume of 575,893. The stock has a market cap of $139.76 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $960.74. The business’s fifty day moving average is $890.01 and its two-hundred day moving average is $826.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last released 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. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.28 earnings per share. Analysts anticipate that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced 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 was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.17%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday. Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Argus raised their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $943.93.

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.