Brooklyn Investment Group Sells 24 Shares of BlackRock, Inc. (NYSE:BLK)

Brooklyn Investment Group lessened its stake in BlackRock, Inc. (NYSE:BLK) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 924 shares of the asset manager’s stock after selling 24 shares during the period. Brooklyn Investment Group’s holdings in BlackRock were worth $877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC increased its stake in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the period. Onyx Bridge Wealth Group LLC increased its holdings in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC lifted its stake in shares of 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 purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in BlackRock by 0.7% during the third 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. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BLK shares. Wells Fargo & Company boosted their target price on 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. increased their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Buying and Selling at BlackRock

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 transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,031.49 on Tuesday. 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 firm’s 50 day simple moving average is $987.00 and its 200-day simple moving average is $882.60. BlackRock, Inc. has a 12 month low of $724.54 and a 12 month high of $1,068.34. The stock has a market capitalization of $159.76 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the company earned $10.91 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 1.98%. BlackRock’s dividend payout ratio is currently 50.35%.

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.