Drucker Wealth 3.0 LLC Sells 742 Shares of BlackRock $BLK

Drucker Wealth 3.0 LLC lowered its position in BlackRock (NYSE:BLKFree Report) by 17.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. raised its position in 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 acquiring an additional 18 shares during the period. TruNorth Capital Management LLC grew its holdings in BlackRock by 1,000.0% during the third quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 20 shares during the period. Traub Capital Management LLC purchased a new stake in BlackRock in the second quarter worth about $28,000. Whipplewood Advisors LLC raised its stake in shares of BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the period. Finally, Creekmur Asset Management LLC lifted its position in shares of BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 20,000 shares of BlackRock 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 directly owned 61,894 shares of the company’s stock, valued at $69,630,750. The trade was a 24.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Cohen sold 2,179 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,073.87, for a total transaction of $2,339,962.73. Following the completion of the sale, the director owned 6,543 shares of the company’s stock, valued at $7,026,331.41. This trade represents a 24.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 109,967 shares of company stock worth $122,487,380. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

BlackRock stock opened at $1,074.80 on Wednesday. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $1,093.81 and its 200 day moving average is $1,105.31. The company has a market cap of $166.76 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.34 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, topping analysts’ consensus estimates of $12.55 by $0.61. The firm had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.80 billion. BlackRock had a net margin of 22.93% and a return on equity of 15.14%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm posted $11.93 EPS. Sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a dividend of $5.73 per share. This represents a $22.92 dividend on an annualized basis and a yield of 2.1%. This is a boost from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date is Friday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 58.84%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $1,310.00 to $1,340.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Morgan Stanley raised their price objective on shares of BlackRock from $1,514.00 to $1,550.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Barclays upped their target price on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,296.00 to $1,380.00 in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,311.11.

View Our Latest Stock Analysis on BlackRock

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

BlackRock Company Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.