Cobblestone Capital Advisors LLC NY Boosts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Cobblestone Capital Advisors LLC NY increased its position in BlackRock, Inc. (NYSE:BLK) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,101 shares of the asset manager’s stock after acquiring an additional 29 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in BlackRock were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. FMR LLC lifted its holdings in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares in the last quarter. Fisher Asset Management LLC raised its position in BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Ameriprise Financial Inc. lifted its stake 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 acquiring an additional 46,728 shares during the period. Legal & General Group Plc grew its stake in shares of BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC lifted its position in 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 valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLK has been the topic of several recent research reports. StockNews.com began coverage on shares of BlackRock in a research report on Friday. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted 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. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Up 0.3 %

Shares of NYSE BLK opened at $1,022.80 on Friday. The business’s 50 day moving average price is $994.93 and its 200-day moving average price is $888.30. BlackRock, Inc. has a fifty-two week low of $742.22 and a fifty-two week high of $1,068.34. 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 company has a market cap of $158.41 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.82 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.91 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

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