Pacer Advisors Inc. boosted its stake in BlackRock, Inc. (NYSE:BLK – Free Report) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,310 shares of the asset manager’s stock after acquiring an additional 369 shares during the quarter. Pacer Advisors Inc.’s holdings in BlackRock were worth $9,789,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. Legal & General Group Plc grew its stake in shares of BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of BlackRock by 89,389.4% during 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 last quarter. International Assets Investment Management LLC lifted its stake 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. Finally, Envestnet Asset Management Inc. boosted its holdings in BlackRock by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after purchasing an additional 17,087 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on BLK shares. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group upped their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price target 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. Finally, StockNews.com started coverage on BlackRock in a research note on Thursday. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.
BlackRock Trading Up 0.8 %
NYSE:BLK opened at $1,036.46 on Friday. The firm has a market capitalization 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 business has a 50 day simple moving average of $984.28 and a 200 day simple moving average of $880.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 12-month low of $724.54 and a 12-month high of $1,068.34.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.91 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.
BlackRock Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.97%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.
Insider Transactions at BlackRock
In related news, Director Mark Wiedman sold 12,000 shares of the 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 transaction, the director now owns 6,480 shares in the company, 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 can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.
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.
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