Carnegie Investment Counsel Sells 296 Shares of BlackRock, Inc. (NYSE:BLK)

Carnegie Investment Counsel cut its stake in BlackRock, Inc. (NYSE:BLK) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,408 shares of the asset manager’s stock after selling 296 shares during the quarter. Carnegie Investment Counsel’s holdings in BlackRock were worth $26,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in BlackRock during the 4th quarter valued at about $50,000. Voisard Asset Management Group Inc. bought a new position in shares of BlackRock in the 4th quarter worth approximately $65,000. GLOBALT Investments LLC GA purchased a new position in shares of BlackRock in the fourth quarter worth approximately $226,000. Chicago Partners Investment Group LLC increased its holdings in BlackRock by 11.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 638 shares of the asset manager’s stock valued at $501,000 after buying an additional 67 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of BlackRock by 315.8% during the 4th quarter. Centaurus Financial Inc. now owns 844 shares of the asset manager’s stock worth $685,000 after acquiring an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. StockNews.com assumed coverage on shares of BlackRock in a research report on Saturday. They set a “hold” rating on the stock. Wells Fargo & Company upped their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their price target on BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Barclays increased their price target on shares of BlackRock from $990.00 to $1,010.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $972.23.

BlackRock Stock Up 3.6 %

Shares of BLK opened at $990.26 on Friday. The stock has a fifty day simple moving average of $899.39 and a two-hundred day simple moving average of $831.36. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company 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. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $996.29.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion during 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 revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.91 EPS. As a group, equities analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared 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 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Transactions at BlackRock

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

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.