Gilliland Jeter Wealth Management LLC Purchases 111 Shares of BlackRock, Inc. (NYSE:BLK)

Gilliland Jeter Wealth Management LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 34.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 429 shares of the asset manager’s stock after acquiring an additional 111 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in BlackRock were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BLK. Redmont Wealth Advisors LLC bought a new position in BlackRock in the first quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at about $31,000. Chilton Capital Management LLC acquired a new position in shares of BlackRock during the first quarter worth about $38,000. Olistico Wealth LLC bought a new position in shares of BlackRock during the second quarter worth about $53,000. Finally, ORG Partners LLC raised its position in BlackRock by 257.9% in the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock valued at $54,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.5 %

Shares of BLK opened at $1,007.02 on Monday. The firm’s 50-day simple moving average is $915.45 and its 200 day simple moving average is $837.66. 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 firm has a market cap of $149.64 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00.

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

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of research reports. Barclays boosted their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com began coverage on BlackRock in a research report on Sunday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $991.46.

Insiders Place Their Bets

In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,527,116. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,042 shares of company stock worth $56,857,777 in the last quarter. Corporate 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.