Fmr LLC Has $2.24 Billion Holdings in BlackRock, Inc. (NYSE:BLK)

Fmr LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,363,965 shares of the asset manager’s stock after purchasing an additional 226,135 shares during the quarter. Fmr LLC owned 1.60% of BlackRock worth $2,244,608,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC boosted its position in BlackRock by 9.5% during the 1st quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager’s stock worth $781,000 after acquiring an additional 81 shares during the last quarter. Waverly Advisors LLC boosted its holdings in BlackRock by 405.1% during the first quarter. Waverly Advisors LLC now owns 2,652 shares of the asset manager’s stock worth $2,210,000 after purchasing an additional 2,127 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in BlackRock by 22.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,097 shares of the asset manager’s stock valued at $3,416,000 after purchasing an additional 763 shares in the last quarter. Comerica Bank increased its stake in BlackRock by 1.3% in the 1st quarter. Comerica Bank now owns 56,419 shares of the asset manager’s stock valued at $47,036,000 after buying an additional 720 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in BlackRock by 24.7% during the 1st quarter. Beacon Capital Management LLC now owns 106 shares of the asset manager’s stock worth $88,000 after buying an additional 21 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted 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. Finally, Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.5 %

Shares of BLK stock opened at $1,031.49 on Tuesday. The firm has a market cap of $159.76 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The business has a 50-day moving average price of $987.00 and a two-hundred day moving average price of $882.60. 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 12-month low of $724.54 and a 12-month high of $1,068.34.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating 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 previous year, the company posted $10.91 EPS. BlackRock’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 43.17 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 issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

BlackRock Company 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.