DMC Group LLC Acquires 68 Shares of BlackRock, Inc. (NYSE:BLK)

DMC Group LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 4.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,761 shares of the asset manager’s stock after buying an additional 68 shares during the period. BlackRock makes up about 1.4% of DMC Group LLC’s portfolio, making the stock its 11th biggest holding. DMC Group LLC’s holdings in BlackRock were worth $1,672,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. First Hawaiian Bank purchased a new position in BlackRock during the first quarter worth $200,000. RFG Advisory LLC grew its holdings in BlackRock by 3.2% during the 1st quarter. RFG Advisory LLC now owns 1,627 shares of the asset manager’s stock valued at $1,356,000 after purchasing an additional 50 shares during the last quarter. International Assets Investment Management LLC raised its position in BlackRock by 10.5% in the 1st quarter. International Assets Investment Management LLC now owns 874 shares of the asset manager’s stock worth $722,000 after purchasing an additional 83 shares during the period. Cooper Financial Group lifted its stake in BlackRock by 4.9% in the first quarter. Cooper Financial Group now owns 691 shares of the asset manager’s stock worth $576,000 after purchasing an additional 32 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of BlackRock by 32.8% during the first quarter. AdvisorNet Financial Inc now owns 498 shares of the asset manager’s stock valued at $415,000 after buying an additional 123 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BLK stock opened at $1,007.02 on Friday. The stock’s 50-day moving average is $915.45 and its 200 day moving average is $837.50. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $149.64 billion, a P/E ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30.

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

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. Citigroup raised their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company raised their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $991.46.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly 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. In the last quarter, insiders sold 66,042 shares of company stock worth $56,857,777. Insiders own 0.90% of the company’s stock.

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.