BlackRock, Inc. (NYSE:BLK) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 3,211 shares of the asset manager’s stock after selling 15 shares during the quarter. Gateway Investment Advisers LLC’s holdings in BlackRock were worth $3,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at about $28,000. Fairscale Capital LLC acquired a new stake in BlackRock during the second quarter worth about $31,000. Lam Group Inc. purchased a new position in BlackRock during the first quarter worth about $33,000. Finally, Fairman Group LLC acquired a new position in BlackRock in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $990.26 on Friday. The firm has a market capitalization of $147.15 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business’s fifty day moving average price is $899.39 and its 200 day moving average price is $831.36. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $996.29.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.91 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.06%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,826,802.56. 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 this link. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 5,732 shares in the company, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BLK shares. JPMorgan Chase & Co. raised their price objective on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised their price target on BlackRock from $990.00 to $1,010.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, UBS Group cut 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. Three research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $972.23.

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.