Drucker Wealth 3.0 LLC Sells 742 Shares of BlackRock $BLK

Drucker Wealth 3.0 LLC decreased its holdings in BlackRock (NYSE:BLKFree Report) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,558 shares of the asset manager’s stock after selling 742 shares during the period. Drucker Wealth 3.0 LLC’s holdings in BlackRock were worth $4,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CNB Bank boosted its position in BlackRock by 9.6% in the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares during the period. Magellan Asset Management Ltd raised its stake in shares of BlackRock by 14.3% during the second quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 9 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in shares of BlackRock by 1.1% in the second quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock valued at $857,000 after purchasing an additional 9 shares during the period. First Financial Bank Trust Division grew its stake in BlackRock by 0.5% in the third quarter. First Financial Bank Trust Division now owns 1,794 shares of the asset manager’s stock worth $2,092,000 after purchasing an additional 9 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in BlackRock by 0.6% during the 3rd quarter. HM Payson & Co. now owns 1,444 shares of the asset manager’s stock worth $1,683,000 after purchasing an additional 9 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. CICC Research upped their price objective on shares of BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. BMO Capital Markets lowered their price target on shares of BlackRock from $1,300.00 to $1,250.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $1,244.00 to $1,267.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Barclays increased their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Bank of America lifted their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,311.11.

View Our Latest Analysis on BLK

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

BlackRock Price Performance

Shares of BLK opened at $1,074.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The company’s fifty day moving average price is $1,093.81 and its 200-day moving average price is $1,105.31. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The firm has a market capitalization of $166.76 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Thursday, January 15th. The asset manager reported $13.16 EPS for the quarter, topping analysts’ consensus estimates of $12.55 by $0.61. The company had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.80 billion. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The firm’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.93 EPS. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be given a $5.73 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.21. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, March 6th. BlackRock’s payout ratio is currently 58.84%.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the transaction, the director owned 61,894 shares of the company’s stock, valued at $69,630,750. This trade represents a 24.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the transaction, the chief operating officer owned 51,478 shares of the company’s stock, valued at $55,971,514.62. This represents a 51.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 109,967 shares of company stock worth $122,487,380 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

About BlackRock

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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