Creative Planning Has $22.04 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Creative Planning increased its holdings in BlackRock, Inc. (NYSE:BLK) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,217 shares of the asset manager’s stock after purchasing an additional 1,353 shares during the period. Creative Planning’s holdings in BlackRock were worth $22,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BLK. Axxcess Wealth Management LLC increased its holdings in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 buying an additional 14,477 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in shares of BlackRock during the first quarter worth approximately $6,735,000. Cetera Investment Advisers increased its holdings in shares of BlackRock by 219.5% during the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after buying an additional 30,274 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of BlackRock during the first quarter worth approximately $161,918,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLK shares. UBS Group dropped their price objective 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. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Argus raised their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group raised their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock valued at $56,857,777 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

Shares of BLK stock opened at $1,007.02 on Monday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00. The stock has a market cap of $149.64 billion, a PE ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm’s 50 day moving average price is $915.45 and its two-hundred day moving average price is $837.66.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $10.91 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio is 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.