Cinctive Capital Management LP Takes $5.64 Million Position in BlackRock, Inc. (NYSE:BLK)

Cinctive Capital Management LP bought a new stake in BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,939 shares of the asset manager’s stock, valued at approximately $5,639,000.

Several other hedge funds have also made changes to their positions in the company. Ascent Group LLC lifted its stake in shares of BlackRock by 168.0% in the 3rd quarter. Ascent Group LLC now owns 2,109 shares of the asset manager’s stock valued at $2,003,000 after purchasing an additional 1,322 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in BlackRock by 1,431.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 37,585 shares of the asset manager’s stock valued at $35,709,000 after buying an additional 35,131 shares during the period. Atom Investors LP boosted its stake in BlackRock by 7.1% during the third quarter. Atom Investors LP now owns 302 shares of the asset manager’s stock worth $287,000 after buying an additional 20 shares during the period. Kestra Investment Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at approximately $217,000. Finally, FSA Wealth Management LLC purchased a new stake in BlackRock in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. TD Cowen raised their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays boosted 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 note on Monday, October 14th. Finally, StockNews.com initiated coverage on BlackRock in a research report on Friday. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Performance

Shares of BLK opened at $1,022.80 on Monday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52-week low of $742.22 and a 52-week high of $1,068.34. The stock has a 50 day moving average price of $994.93 and a 200 day moving average price of $888.81. The company has a market capitalization of $158.41 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS 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 analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.91 earnings per share. Research analysts predict that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

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.