Corient Private Wealth LLC Sells 3,281 Shares of BlackRock $BLK

Corient Private Wealth LLC trimmed its holdings in shares of BlackRock (NYSE:BLK) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,917 shares of the asset manager’s stock after selling 3,281 shares during the period. Corient Private Wealth LLC owned about 0.07% of BlackRock worth $112,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BLK. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the period. Garde Capital Inc. boosted its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Traub Capital Management LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at $28,000. Whipplewood Advisors LLC increased its holdings in shares of BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the period. Finally, Creekmur Asset Management LLC raised its position in shares of BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.5%

NYSE:BLK opened at $1,083.30 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market cap of $168.07 billion, a PE ratio of 27.86, a P/E/G ratio of 1.70 and a beta of 1.47. The company’s 50 day moving average is $1,090.18 and its two-hundred day moving average is $1,089.89.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the prior year, the business posted $11.46 EPS. The company’s quarterly revenue was up 25.2% on a year-over-year basis. Analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. BlackRock’s payout ratio is presently 53.59%.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Small sold 1,258 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the completion of the transaction, the chief financial officer owned 6,209 shares in the company, valued at approximately $6,478,346.42. This trade represents a 16.85% decrease in their position. The SEC filing for this sale provides additional information. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BLK has been the topic of a number of recent research reports. Loop Capital set a $1,255.00 price objective on BlackRock in a research report on Tuesday, October 21st. BMO Capital Markets raised their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Morgan Stanley lifted their price objective on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Evercore ISI increased their target price on shares of BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, UBS Group assumed coverage on shares of BlackRock in a research note on Thursday. They issued a “neutral” rating and a $1,180.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,313.65.

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.