Activest Wealth Management Cuts Stake in BlackRock, Inc. (NYSE:BLK)

Activest Wealth Management decreased its position in BlackRock, Inc. (NYSE:BLK) by 62.6% in the 3rd quarter, Holdings Channel reports. The fund owned 70 shares of the asset manager’s stock after selling 117 shares during the period. Activest Wealth Management’s holdings in BlackRock were worth $67,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BLK. Pathway Financial Advisers LLC grew its holdings in 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 acquiring an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $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 3rd quarter worth about $115,377,000. Sarasin & Partners LLP grew its holdings in BlackRock by 174.8% in the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock worth $145,096,000 after buying an additional 117,218 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of BlackRock in the first quarter worth $86,282,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Evercore ISI lifted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Performance

NYSE:BLK traded up $2.34 during trading hours on Thursday, hitting $1,027.01. 32,440 shares of the company traded hands, compared to its average volume of 572,835. The firm has a 50-day moving average of $978.33 and a 200 day moving average of $876.59. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $159.06 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.83 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business earned $10.91 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced 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. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock’s payout ratio is 50.35%.

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.