Sequoia Financial Advisors LLC Has $16.74 Million Stake in BlackRock, Inc. (NYSE:BLK)

Sequoia Financial Advisors LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,626 shares of the asset manager’s stock after purchasing an additional 2,183 shares during the period. Sequoia Financial Advisors LLC’s holdings in BlackRock were worth $16,736,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Axxcess Wealth Management LLC raised its stake in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $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 during the first quarter worth approximately $6,735,000. Cetera Investment Advisers raised its stake 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 buying an additional 30,274 shares during the last quarter. Finally, M&G Plc bought a new stake in shares of BlackRock during the first quarter worth approximately $161,918,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com assumed coverage on shares of BlackRock in a research note on Sunday. They issued a “hold” rating for the company. The Goldman Sachs Group upped 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, Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $995.31.

Insider Buying and Selling at BlackRock

In other BlackRock news, 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 value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 over the last quarter. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Down 0.2 %

BLK traded down $2.50 during trading hours on Tuesday, hitting $998.03. 154,386 shares of the company’s stock were exchanged, compared to its average volume of 574,471. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The stock’s 50-day moving average is $918.70 and its two-hundred day moving average is $839.13. The stock has a market cap of $148.31 billion, a price-to-earnings ratio of 25.43, a PEG 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 announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the company posted $10.91 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. Sell-side analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

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.