Tealwood Asset Management Inc. Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Tealwood Asset Management Inc. lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,709 shares of the asset manager’s stock after buying an additional 25 shares during the quarter. Tealwood Asset Management Inc.’s holdings in BlackRock were worth $1,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Axxcess Wealth Management LLC boosted its stake in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after purchasing an additional 14,477 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in BlackRock in the first quarter valued at $6,735,000. Cetera Investment Advisers increased its position in shares of BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after buying an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of BlackRock during the 1st quarter worth $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group lowered their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Evercore ISI increased their target price on BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $943.93.

BlackRock Trading Up 0.8 %

BLK traded up $7.27 during midday trading on Tuesday, hitting $947.94. The company’s stock had a trading volume of 77,864 shares, compared to its average volume of 573,277. The firm has a market cap of $140.86 billion, a P/E ratio of 24.17, 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 $891.57 and a two-hundred day moving average price of $827.42.

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. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.28 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Announces Dividend

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

About BlackRock

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.