Dumont & Blake Investment Advisors LLC Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Dumont & Blake Investment Advisors LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 50.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,639 shares of the asset manager’s stock after selling 3,719 shares during the quarter. BlackRock comprises about 0.9% of Dumont & Blake Investment Advisors LLC’s portfolio, making the stock its 22nd largest position. Dumont & Blake Investment Advisors LLC’s holdings in BlackRock were worth $3,455,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the first quarter worth $27,000. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter worth about $31,000. Chilton Capital Management LLC purchased a new stake in shares of BlackRock in the first quarter worth about $38,000. MFA Wealth Advisors LLC grew its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the period. Finally, Olistico Wealth LLC purchased a new position in BlackRock during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,042 shares of company stock worth $56,857,777 in the last ninety days. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLK. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Argus increased their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report 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 data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $995.31.

BlackRock Price Performance

Shares of BLK stock traded down $0.20 during trading hours on Friday, reaching $983.80. The company had a trading volume of 32,157 shares, compared to its average volume of 571,743. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $1,032.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $146.19 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.94 and a beta of 1.30. The stock has a fifty day moving average of $924.23 and a 200-day moving average of $841.60.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

About BlackRock

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.