BlackRock, Inc. (NYSE:BLK) Shares Sold by Independent Wealth Network Inc.

Independent Wealth Network Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 244 shares of the asset manager’s stock after selling 10 shares during the period. Independent Wealth Network Inc.’s holdings in BlackRock were worth $250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marino Stram & Associates LLC grew its position in BlackRock by 0.3% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. boosted its stake in BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its holdings in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC grew its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Up 1.1 %

Shares of NYSE BLK opened at $1,016.99 on Friday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $157.51 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The firm’s 50-day moving average is $1,025.37 and its 200-day moving average is $951.85. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company posted $9.66 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 47.43 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.