BlackRock, Inc. (NYSE:BLK) Stake Raised by IHT Wealth Management LLC

IHT Wealth Management LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 34.6% during the 3rd quarter, Holdings Channel reports. The fund owned 972 shares of the asset manager’s stock after purchasing an additional 250 shares during the period. IHT Wealth Management LLC’s holdings in BlackRock were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in BLK. Probity Advisors Inc. raised its stake in shares of BlackRock by 1.6% during the second quarter. Probity Advisors Inc. now owns 879 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 14 shares in the last quarter. Regal Investment Advisors LLC lifted its stake in shares of BlackRock by 0.7% in the 2nd quarter. Regal Investment Advisors LLC now owns 2,018 shares of the asset manager’s stock worth $1,229,000 after acquiring an additional 14 shares during the period. Israel Discount Bank of New York boosted its holdings in shares of BlackRock by 2.4% in the third quarter. Israel Discount Bank of New York now owns 594 shares of the asset manager’s stock valued at $327,000 after acquiring an additional 14 shares in the last quarter. CAPROCK Group Inc. increased its stake in shares of BlackRock by 0.9% during the third quarter. CAPROCK Group Inc. now owns 1,767 shares of the asset manager’s stock valued at $972,000 after acquiring an additional 15 shares during the period. Finally, Financial Architects Inc raised its holdings in BlackRock by 3.4% during the second quarter. Financial Architects Inc now owns 482 shares of the asset manager’s stock worth $294,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

BlackRock Stock Down 0.0 %

Shares of BlackRock stock opened at $636.71 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a 1 year low of $503.12 and a 1 year high of $788.65. The stock has a 50-day moving average price of $714.75 and a 200 day moving average price of $680.87. The company has a market cap of $95.66 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.11 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.99 by $0.94. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.16 billion. As a group, analysts expect that BlackRock, Inc. will post 34.84 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 7th will be issued a dividend of $5.00 per share. This is a boost from BlackRock’s previous quarterly dividend of $4.88. This represents a $20.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Monday, March 6th. BlackRock’s payout ratio is currently 58.91%.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on BlackRock from $741.00 to $825.00 and gave the company a “buy” rating in a research report on Wednesday, January 4th. Bank of America dropped their price target on shares of BlackRock from $821.00 to $813.00 in a research report on Sunday, January 15th. StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday. They set a “hold” rating for the company. Morgan Stanley increased their target price on shares of BlackRock from $785.00 to $828.00 and gave the company an “overweight” rating in a research note on Tuesday, January 17th. Finally, Credit Suisse Group lifted their price target on shares of BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $740.92.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 575 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $689.06, for a total value of $396,209.50. Following the transaction, the director now owns 4,670 shares in the company, valued at $3,217,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director J. Richard Kushel sold 575 shares of BlackRock stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $689.06, for a total transaction of $396,209.50. Following the completion of the sale, the director now directly owns 4,670 shares in the company, valued at approximately $3,217,910.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen Cohen sold 1,149 shares of the stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $753.46, for a total value of $865,725.54. Following the completion of the transaction, the director now owns 4,135 shares in the company, valued at approximately $3,115,557.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,839 shares of company stock valued at $3,578,947. 1.06% of the stock is owned by insiders.

BlackRock Company Profile

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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.