Leo Wealth LLC Sells 3,761 Shares of BlackRock, Inc. (NYSE:BLK)

Leo Wealth LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 33.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,583 shares of the asset manager's stock after selling 3,761 shares during the period. Leo Wealth LLC's holdings in BlackRock were worth $7,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Eastern Bank grew its stake in shares of BlackRock by 65.4% in the third quarter. Eastern Bank now owns 50,259 shares of the asset manager's stock valued at $47,722,000 after acquiring an additional 19,871 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of BlackRock by 14.1% in the third quarter. Sequoia Financial Advisors LLC now owns 17,626 shares of the asset manager's stock valued at $16,736,000 after buying an additional 2,183 shares during the period. Oakworth Capital Inc. increased its stake in BlackRock by 16.7% during the 3rd quarter. Oakworth Capital Inc. now owns 894 shares of the asset manager's stock worth $849,000 after acquiring an additional 128 shares during the period. Foundations Investment Advisors LLC raised its holdings in BlackRock by 9.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 996 shares of the asset manager's stock valued at $945,000 after acquiring an additional 89 shares in the last quarter. Finally, Ledyard National Bank lifted its position in shares of BlackRock by 14.0% during the 3rd quarter. Ledyard National Bank now owns 1,108 shares of the asset manager's stock valued at $1,052,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLK shares. UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Evercore ISI upped their target price on BlackRock from $995.00 to $1,040.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $995.31.

BlackRock Trading Up 0.0 %

Shares of BLK stock traded up $0.11 during trading hours on Tuesday, hitting $1,000.64. 503,917 shares of the company's stock traded hands, compared to its average volume of 576,182. 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 12 month low of $596.18 and a 12 month high of $1,032.00. The stock has a market cap of $148.70 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The stock's 50 day simple moving average is $921.62 and its 200 day simple moving average is $840.57.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 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 for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the business earned $10.91 EPS. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock's dividend payout ratio (DPR) is currently 51.84%.

Insider Activity

In related news, 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 transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company's stock, valued at $5,832,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,042 shares of company stock valued at $56,857,777. 0.90% of the stock is currently owned by insiders.

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.