Larson Financial Group LLC Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Larson Financial Group LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 27.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 549 shares of the asset manager’s stock after purchasing an additional 117 shares during the period. Larson Financial Group LLC’s holdings in BlackRock were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Marino Stram & Associates LLC increased its position 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 valued at $3,227,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC lifted its holdings in BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of BlackRock by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred 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 approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

NYSE:BLK opened at $1,031.49 on Tuesday. The company’s 50-day moving average is $987.00 and its two-hundred day moving average is $882.60. The firm 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. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1-year low of $724.54 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 earnings per share. Analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

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.