Anchor Investment Management LLC Buys 191 Shares of BlackRock, Inc. (NYSE:BLK)

Anchor Investment Management LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 31.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 791 shares of the asset manager’s stock after acquiring an additional 191 shares during the quarter. Anchor Investment Management LLC’s holdings in BlackRock were worth $751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BLK. Marino Stram & Associates LLC grew its holdings in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 11 shares in the last quarter. Ballentine Partners LLC lifted its stake in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after acquiring an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after acquiring an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.83, for a total value of $18,824,940.00. Following the completion of the sale, the general counsel now directly owns 8,628 shares in the company, valued at approximately $9,023,421.24. This represents a 67.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,190 shares of company stock valued at $113,161,681 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley lifted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays lifted their target price on BlackRock from $1,120.00 to $1,220.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,039.17.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,058.33 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $163.91 billion, a PE ratio of 26.12, a P/E/G ratio of 1.88 and a beta of 1.28. The business has a 50 day moving average of $1,011.05 and a 200 day moving average of $901.89. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.91 earnings per share. As a group, equities research analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.93%. BlackRock’s payout ratio is 50.35%.

BlackRock Company 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.