658 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 658 shares of the asset manager’s stock, valued at approximately $625,000.

Other institutional investors have also modified their holdings 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 increased its holdings in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares in the last quarter. Ballentine Partners LLC raised its position in BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after acquiring an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in BlackRock by 0.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of the business’s 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 transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were 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 of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,190 shares of company stock worth $113,161,681. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Up 1.2 %

BLK opened at $1,058.57 on Wednesday. The company has a market cap of $163.95 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.28. 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 1 year low of $744.32 and a 1 year high of $1,068.34. The firm has a 50 day moving average price of $1,006.40 and a 200 day moving average price of $898.79.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm posted $10.91 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given 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 payout ratio is 50.35%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BLK. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays upped their price objective on shares of BlackRock from $1,120.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus 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.