Claro Advisors LLC Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Claro Advisors LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 249.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,834 shares of the asset manager's stock after purchasing an additional 4,165 shares during the period. Claro Advisors LLC's holdings in BlackRock were worth $5,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLK. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock during the first quarter worth about $27,000. Fairscale Capital LLC purchased a new position in shares of BlackRock during the second quarter worth about $31,000. Chilton Capital Management LLC purchased a new position in shares of BlackRock during the first quarter worth about $38,000. City Holding Co. purchased a new position in shares of BlackRock during the third quarter worth about $55,000. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock during the second quarter worth about $53,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,527,116. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 29,450 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 353,718 shares of the company's stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,042 shares of company stock worth $56,857,777 in the last ninety days. Insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the company an "outperform" rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $912.00 to $937.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Citigroup lifted their price objective on BlackRock from $920.00 to $930.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Finally, UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and a consensus price target of $991.46.

BlackRock Price Performance

Shares of BlackRock stock traded up $4.52 during trading on Friday, hitting $1,007.02. 505,235 shares of the company were exchanged, compared to its average volume of 577,853. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $1,032.00. The stock has a market capitalization of $149.64 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.94 and a beta of 1.30. The firm has a 50 day moving average price of $912.43 and a 200 day moving average price of $836.11.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm posted $10.91 EPS. The company's quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. BlackRock's dividend payout ratio is currently 51.84%.

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.