Consolidated Capital Management LLC Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Consolidated Capital Management LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,410 shares of the asset manager’s stock after selling 57 shares during the period. BlackRock accounts for approximately 2.0% of Consolidated Capital Management LLC’s holdings, making the stock its 20th biggest holding. Consolidated Capital Management LLC’s holdings in BlackRock were worth $4,521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Oddo BHF Asset Management Sas purchased a new stake in shares of BlackRock in the third quarter valued at $518,000. Erste Asset Management GmbH purchased a new stake in BlackRock in the 3rd quarter worth about $32,904,000. Raymond James Trust N.A. raised its position in BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the period. MML Investors Services LLC lifted its stake in BlackRock by 2.8% in the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after purchasing an additional 1,852 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in shares of BlackRock by 20.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after buying an additional 565 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Stock Up 0.9 %

Shares of NYSE BLK opened at $1,004.23 on Monday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. The stock’s fifty day simple moving average is $1,027.33 and its two-hundred day simple moving average is $947.28. The stock has a market capitalization of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.66 earnings per share. As a group, analysts expect that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s payout ratio is 50.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday. Barclays dropped their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,103.33.

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.