iA Global Asset Management Inc. Sells 100,531 Shares of BlackRock, Inc. (NYSE:BLK)

iA Global Asset Management Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 96.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,041 shares of the asset manager’s stock after selling 100,531 shares during the period. iA Global Asset Management Inc.’s holdings in BlackRock were worth $3,837,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new position in BlackRock during the second quarter worth $31,000. Reston Wealth Management LLC purchased a new position in BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC increased its position in BlackRock by 100.0% during the third 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. Finally, Addison Advisors LLC raised its stake in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BLK shares. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley increased their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Trading Down 0.2 %

NYSE:BLK opened at $1,042.87 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a 50-day simple moving average of $1,004.44 and a 200-day simple moving average of $896.26. BlackRock, Inc. has a one year low of $742.22 and a one year high of $1,068.34. The firm has a market cap of $161.52 billion, a P/E ratio of 25.74, a P/E/G ratio of 1.80 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the prior year, the business earned $10.91 earnings per share. BlackRock’s revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.96%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insiders Place Their Bets

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.83, for a total transaction of $18,824,940.00. Following the transaction, the general counsel now directly owns 8,628 shares of the company’s stock, valued at approximately $9,023,421.24. This represents a 67.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,190 shares of company stock worth $113,161,681. 0.90% of the stock is owned by corporate insiders.

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.