Pegasus Asset Management Inc. Sells 64 Shares of BlackRock, Inc. (NYSE:BLK)

Pegasus Asset Management Inc. reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 7,334 shares of the asset manager’s stock after selling 64 shares during the period. BlackRock makes up 2.7% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding. Pegasus Asset Management Inc.’s holdings in BlackRock were worth $6,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marino Stram & Associates LLC lifted its position in shares of BlackRock by 0.3% during the 3rd 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 last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in shares of BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares during the period. XML Financial LLC grew its stake in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after buying an additional 12 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its stake in BlackRock by 1.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 937 shares of the asset manager’s stock valued at $890,000 after purchasing an additional 12 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in shares of BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on 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 sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,042 shares of company stock valued at $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE:BLK traded down $0.24 on Tuesday, reaching $1,000.29. The company’s stock had a trading volume of 184,153 shares, compared to its average volume of 574,616. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $1,032.00. The stock has a market capitalization of $148.64 billion, a P/E ratio of 25.43, a PEG ratio of 1.94 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. The stock’s 50-day moving average is $918.70 and its two-hundred 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 EPS for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm posted $10.91 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of 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. increased their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group decreased their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com assumed coverage on shares of BlackRock in a research report on Sunday. They set a “hold” rating for the company. Finally, Morgan Stanley raised their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target 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.