Rede Wealth LLC Reduces Holdings in BlackRock $BLK

Rede Wealth LLC lowered its position in BlackRock (NYSE:BLK) by 74.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 174 shares of the asset manager’s stock after selling 519 shares during the period. Rede Wealth LLC’s holdings in BlackRock were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in shares of BlackRock by 450.0% in the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after purchasing an additional 18 shares in the last quarter. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares during the period. Traub Capital Management LLC bought a new position in BlackRock in the 2nd quarter worth approximately $28,000. Whipplewood Advisors LLC grew its stake in 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 buying an additional 15 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its holdings in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BLK shares. Bank of America raised their price target on BlackRock from $1,456.00 to $1,464.00 in a report on Wednesday, December 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $1,305.00 to $1,298.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Morgan Stanley upped their price target on BlackRock from $1,486.00 to $1,514.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group increased their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,316.18.

BlackRock Stock Performance

Shares of BLK opened at $1,088.78 on Friday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.34. The company has a market cap of $168.92 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.72 and a beta of 1.47. The stock has a 50-day moving average price of $1,073.87 and a 200-day moving average price of $1,094.95.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the company posted $11.46 earnings per share. As a group, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th were given a dividend of $5.21 per share. The ex-dividend date was Friday, December 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Small sold 1,258 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,478,346.42. This trade represents a 16.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.98% of the company’s stock.

About BlackRock

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.