Garner Asset Management Corp Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

Garner Asset Management Corp lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,712 shares of the asset manager’s stock after selling 19 shares during the quarter. BlackRock accounts for 1.2% of Garner Asset Management Corp’s portfolio, making the stock its 24th largest position. Garner Asset Management Corp’s holdings in BlackRock were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its position in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the period. International Assets Investment Management LLC raised its position in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in BlackRock in the third quarter worth approximately $115,377,000. Sarasin & Partners LLP raised its position in BlackRock by 174.8% in the second 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 during the period. Finally, Swedbank AB bought a new position in BlackRock in the first quarter worth approximately $86,282,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,036.46 on Friday. 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 cap of $160.53 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30. The firm’s fifty day moving average is $984.28 and its two-hundred day moving average is $880.18. BlackRock, Inc. has a 52-week low of $724.54 and a 52-week high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company posted $10.91 EPS. The business’s revenue was up 14.9% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 dividend yield of 1.97%. BlackRock’s payout ratio is currently 50.35%.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent research reports. Barclays increased their price target 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. StockNews.com initiated coverage on shares of BlackRock in a research report on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen raised their price objective 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. Finally, The Goldman Sachs Group raised their price objective 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock 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.