BlackRock, Inc. (NYSE:BLK) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 96.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,041 shares of the asset manager’s stock after selling 100,531 shares during the quarter. iA Global Asset Management Inc.’s holdings in BlackRock were worth $3,837,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Marino Stram & Associates LLC raised its stake in shares of BlackRock by 0.3% in the third 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. Onyx Bridge Wealth Group LLC increased its holdings in BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares during the period. Ballentine Partners LLC raised its position in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after buying an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after acquiring an additional 11 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of BlackRock by 0.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.2 %

BLK opened at $1,042.87 on Friday. The company has a market cap of $161.52 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $742.22 and a twelve month high of $1,068.34. The company has a 50-day moving average price of $1,004.44 and a 200 day moving average price of $896.26. 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 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. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.91 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.96%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of BlackRock in a research report on Saturday. They set a “hold” rating for the company. Barclays boosted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI lifted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,190 shares of company stock valued at $113,161,681. 0.90% of the stock is currently owned by insiders.

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.