Cerity Partners LLC Grows Position in BlackRock, Inc. (NYSE:BLK)

Cerity Partners LLC raised its position in BlackRock, Inc. (NYSE:BLKFree Report) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 133,070 shares of the asset manager’s stock after buying an additional 1,359 shares during the period. Cerity Partners LLC’s holdings in BlackRock were worth $126,352,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BLK. Fairscale Capital LLC purchased a new stake in BlackRock during the second quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the period. Addison Advisors LLC raised its holdings 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 buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock in the 2nd quarter valued at about $53,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Up 0.8 %

Shares of BlackRock stock opened at $1,036.46 on Friday. The company has a market capitalization of $160.53 billion, a PE ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $724.54 and a 1-year high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a 50-day moving average of $984.28 and a 200-day moving average of $879.49.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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. As a group, equities analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com assumed coverage on BlackRock in a research report on Thursday. They set a “hold” rating for the company. Finally, Wells Fargo & Company increased their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Read Our Latest Analysis on BLK

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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