Point72 Europe London LLP Buys New Holdings in BlackRock, Inc. (NYSE:BLK)

Point72 Europe London LLP acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,100 shares of the asset manager’s stock, valued at approximately $5,792,000.

Several other large investors have also made changes to their positions in BLK. Fairscale Capital LLC acquired a new position in BlackRock during the second quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC lifted its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC boosted 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 worth $47,000 after buying an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in BlackRock during the third quarter valued at approximately $54,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,022.80 on Friday. 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 1 year low of $742.22 and a 1 year high of $1,068.34. The firm has a market capitalization of $158.41 billion, a PE ratio of 25.24, a P/E/G ratio of 1.82 and a beta of 1.30. The business’s 50 day moving average price is $994.93 and its 200-day moving average price is $887.71.

BlackRock (NYSE:BLK) last released its 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 company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.91 earnings per share. As a group, equities research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm 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. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI upped their price objective 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. StockNews.com started coverage on shares of BlackRock in a report on Friday. They set a “hold” rating on the stock. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

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.