Truvestments Capital LLC Buys Shares of 111 BlackRock, Inc. (NYSE:BLK)

Truvestments Capital LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, Holdings Channel reports. The firm purchased 111 shares of the asset manager’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its position in BlackRock by 3.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 30,242 shares of the asset manager’s stock worth $28,715,000 after buying an additional 879 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of BlackRock by 1.9% in the third quarter. Loomis Sayles & Co. L P now owns 301,655 shares of the asset manager’s stock worth $286,424,000 after acquiring an additional 5,709 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in shares of BlackRock by 1,150.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 150 shares of the asset manager’s stock valued at $142,000 after purchasing an additional 138 shares during the last quarter. Fisher Asset Management LLC lifted its position in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in BlackRock by 9.6% in the third quarter. Daiwa Securities Group Inc. now owns 18,583 shares of the asset manager’s stock worth $17,645,000 after purchasing an additional 1,620 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.5 %

Shares of BLK stock opened at $1,026.24 on Wednesday. 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 one year low of $724.54 and a one year high of $1,068.34. The company’s fifty day moving average price is $989.43 and its 200-day moving average price is $884.21. The company has a market capitalization of $158.94 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.85 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 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $10.91 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s payout ratio is 50.35%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BLK shares. Barclays increased their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI increased their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted 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. TD Cowen increased their price objective 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, Wells Fargo & Company boosted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. This represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

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.