Hohimer Wealth Management LLC Raises Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Hohimer Wealth Management LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,428 shares of the asset manager’s stock after purchasing an additional 44 shares during the period. BlackRock accounts for 1.1% of Hohimer Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Hohimer Wealth Management LLC’s holdings in BlackRock were worth $5,154,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of BlackRock by 1.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,264 shares of the asset manager’s stock valued at $23,827,000 after purchasing an additional 490 shares in the last quarter. ORG Partners LLC raised its holdings in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after acquiring an additional 49 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of BlackRock by 16.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 579 shares of the asset manager’s stock valued at $456,000 after acquiring an additional 81 shares during the last quarter. Red Door Wealth Management LLC grew its holdings in shares of BlackRock by 9.1% in the second quarter. Red Door Wealth Management LLC now owns 396 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 33 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its position in BlackRock by 186.7% in the second quarter. J.Safra Asset Management Corp now owns 86 shares of the asset manager’s stock worth $68,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was 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 owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.83, for a total value of $18,824,940.00. Following the completion of the transaction, the general counsel now owns 8,628 shares in the company, valued at $9,023,421.24. This represents a 67.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,190 shares of company stock valued at $113,161,681. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 1.2 %

BLK stock opened at $1,058.57 on Wednesday. BlackRock, Inc. has a 12 month low of $744.32 and a 12 month high of $1,068.34. The firm’s 50-day moving average is $1,006.40 and its 200 day moving average is $898.79. The company has a market capitalization of $163.95 billion, a PE ratio of 26.12, a P/E/G ratio of 1.88 and a beta of 1.28. 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 (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for 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 quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $10.91 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio is 50.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BLK shares. JPMorgan Chase & Co. lifted their price objective 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. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays boosted their target price on BlackRock from $1,120.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,027.31.

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.