Accretive Wealth Partners LLC Has $1.77 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Accretive Wealth Partners LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,861 shares of the asset manager’s stock after selling 49 shares during the quarter. Accretive Wealth Partners LLC’s holdings in BlackRock were worth $1,767,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers lifted its stake in shares of BlackRock by 219.5% in the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock valued at $36,737,000 after purchasing an additional 30,274 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after acquiring an additional 565 shares during the period. GAMMA Investing LLC boosted its stake in BlackRock by 62.8% during the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock worth $1,804,000 after acquiring an additional 884 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in BlackRock by 20.8% in the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock valued at $20,256,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of BlackRock by 6.7% during the third quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock valued at $13,162,000 after purchasing an additional 870 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. Barclays raised their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group raised their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Up 0.7 %

NYSE:BLK opened at $1,032.30 on Friday. The firm’s 50 day moving average is $981.26 and its 200 day moving average is $877.67. BlackRock, Inc. has a 12 month low of $724.54 and a 12 month high of $1,068.34. The stock has a market capitalization of $159.88 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. 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 (NYSE:BLK) last announced its quarterly earnings data 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 company had revenue of $5.20 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $10.91 EPS. Sell-side analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed 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 of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 1.98%. BlackRock’s dividend payout ratio is 50.35%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the company’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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.