Fmr LLC Grows Holdings in BlackRock, Inc. (NYSE:BLK)

Fmr LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 10.6% during the third quarter, Holdings Channel.com reports. The firm owned 2,363,965 shares of the asset manager’s stock after buying an additional 226,135 shares during the period. Fmr LLC’s holdings in BlackRock were worth $2,244,608,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BLK. Fairscale Capital LLC purchased a new position in shares of BlackRock in the second quarter worth about $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at approximately $37,000. MFA Wealth Advisors LLC boosted its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock during the second quarter valued at $53,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com started coverage on shares of BlackRock in a research note on Thursday, November 21st. They issued a “hold” rating for the company. Finally, Evercore ISI raised their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Down 0.5 %

Shares of BlackRock stock opened at $1,031.49 on Tuesday. 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 twelve month low of $724.54 and a twelve month high of $1,068.34. The firm has a market capitalization of $159.76 billion, a PE ratio of 25.46, a P/E/G ratio of 1.85 and a beta of 1.30. The firm’s 50-day moving average price is $987.00 and its 200 day moving average price is $882.60.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the business posted $10.91 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.