BlackRock, Inc. (NYSE:BLK) Stock Position Reduced by Graybill Wealth Management LTD.

Graybill Wealth Management LTD. cut its holdings in BlackRock, Inc. (NYSE:BLK) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,153 shares of the asset manager’s stock after selling 216 shares during the quarter. BlackRock comprises approximately 2.9% of Graybill Wealth Management LTD.’s portfolio, making the stock its 8th largest holding. Graybill Wealth Management LTD.’s holdings in BlackRock were worth $7,741,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Axxcess Wealth Management LLC raised its position in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in BlackRock by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares during the last quarter. Oak Harvest Investment Services bought a new stake in shares of BlackRock in the first quarter worth $6,735,000. Cetera Investment Advisers lifted its position 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 purchasing an additional 30,274 shares during the last quarter. Finally, M&G Plc bought a new position in BlackRock during the first quarter worth $161,918,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 in the last ninety days. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on BLK. 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, October 9th. JPMorgan Chase & Co. upped their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Price Performance

NYSE BLK traded down $8.44 on Tuesday, hitting $992.09. 102,499 shares of the company were exchanged, compared to its average volume of 574,216. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $147.42 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The firm has a 50 day moving average of $918.70 and a two-hundred day moving average of $839.13.

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

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, September 9th. BlackRock’s 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.