BlackRock, Inc. (NYSE:BLK) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,660 shares of the asset manager’s stock after selling 308 shares during the quarter. First Horizon Advisors Inc.’s holdings in BlackRock were worth $2,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its holdings in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC increased its position in shares of 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of BlackRock during the 3rd quarter valued at $115,377,000. Sarasin & Partners LLP boosted its position in BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after purchasing an additional 117,218 shares during the period. Finally, Swedbank AB purchased a new position in BlackRock in the first quarter valued at about $86,282,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLK. Barclays raised their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com assumed coverage on BlackRock in a research note on Thursday. They set a “hold” rating for the company. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,024.67 on Thursday. 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 stock has a market cap of $158.70 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. The business has a fifty day simple moving average of $978.33 and a 200-day simple moving average of $876.59. BlackRock, Inc. has a 12 month low of $718.72 and a 12 month high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the business earned $10.91 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

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.