Waterway Wealth Management LLC Purchases 70 Shares of BlackRock, Inc. (NYSE:BLK)

Waterway Wealth Management LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949 shares of the asset manager’s stock after acquiring an additional 70 shares during the quarter. BlackRock makes up 0.4% of Waterway Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Waterway Wealth Management LLC’s holdings in BlackRock were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Community Financial Services Group LLC grew its stake in BlackRock by 1.7% during the third quarter. Community Financial Services Group LLC now owns 4,768 shares of the asset manager’s stock worth $4,527,000 after purchasing an additional 79 shares during the period. 1858 Wealth Management LLC acquired a new stake in BlackRock in the third quarter valued at approximately $230,000. Toth Financial Advisory Corp grew its stake in BlackRock by 1.4% in the third quarter. Toth Financial Advisory Corp now owns 9,703 shares of the asset manager’s stock valued at $9,213,000 after acquiring an additional 134 shares during the period. Marino Stram & Associates LLC grew its stake in BlackRock by 0.3% in the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after acquiring an additional 10 shares during the period. Finally, Prio Wealth Limited Partnership acquired a new stake in BlackRock in the third quarter valued at approximately $229,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business’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 completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. 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 ninety days. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

NYSE:BLK opened at $1,000.53 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00. The firm has a market cap of $148.68 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. The business’s fifty day moving average is $918.70 and its 200 day moving average is $839.13.

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

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group cut their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays lifted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.31.

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.