Waterway Wealth Management LLC Purchases 70 Shares of BlackRock, Inc. (NYSE:BLK)

Waterway Wealth Management LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 949 shares of the asset manager’s stock after acquiring an additional 70 shares during the period. BlackRock makes up approximately 0.4% of Waterway Wealth Management LLC’s holdings, making the stock its 26th largest holding. Waterway Wealth Management LLC’s holdings in BlackRock were worth $901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. M&G Plc acquired a new stake in BlackRock during the first quarter valued at approximately $161,918,000. Sarasin & Partners LLP boosted its holdings in shares of BlackRock by 174.8% in the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after acquiring an additional 117,218 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of BlackRock in the 1st quarter worth approximately $86,282,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLK. StockNews.com began coverage on BlackRock in a report on Sunday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group dropped 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. Morgan Stanley upped their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $995.31.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,000.53 on Tuesday. The firm has a market cap of $148.68 billion, a PE ratio of 25.43, a PEG ratio of 1.94 and a beta of 1.30. The company has a fifty day moving average price of $918.70 and a 200 day moving average price of $839.13. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $1,032.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 41.73 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock’s payout ratio is 51.84%.

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock valued at $56,857,777 over the last three months. Insiders own 0.90% of the company’s stock.

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.