1858 Wealth Management LLC Takes $230,000 Position in BlackRock, Inc. (NYSE:BLK)

1858 Wealth Management LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 242 shares of the asset manager’s stock, valued at approximately $230,000.

Other hedge funds also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $27,000. Fairscale Capital LLC bought a new position in BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC bought a new stake in BlackRock in the first quarter valued at approximately $38,000. Olistico Wealth LLC purchased a new stake in shares of BlackRock during the second quarter valued at approximately $53,000. Finally, ORG Partners LLC raised its holdings in BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock valued at $54,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group cut their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen lifted 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. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

BlackRock Stock Performance

BLK traded down $6.17 during midday trading on Monday, hitting $1,000.85. 127,881 shares of the company traded hands, compared to its average volume of 575,587. The company’s 50-day moving average is $915.45 and its 200 day moving average is $837.66. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00. The firm has a market capitalization of $148.73 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction 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 $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred 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 directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock valued at $56,857,777. Insiders own 0.90% of the company’s stock.

BlackRock Company 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.