Cadence Bank Has $406,000 Position in BlackRock, Inc. (NYSE:BLK)

Cadence Bank decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428 shares of the asset manager’s stock after selling 25 shares during the quarter. Cadence Bank’s holdings in BlackRock were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. BNP Paribas Financial Markets boosted its holdings in shares of BlackRock by 48.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after buying an additional 109,771 shares during the period. Shum Financial Group Inc. bought a new stake in shares of BlackRock during the third quarter worth approximately $2,182,000. Avestar Capital LLC grew its position in shares of BlackRock by 16.6% in the third quarter. Avestar Capital LLC now owns 876 shares of the asset manager’s stock valued at $832,000 after purchasing an additional 125 shares during the last quarter. Covington Investment Advisors Inc. increased its stake in shares of BlackRock by 0.7% during the third quarter. Covington Investment Advisors Inc. now owns 14,933 shares of the asset manager’s stock worth $14,179,000 after purchasing an additional 104 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in BlackRock by 27.5% during the 3rd quarter. D.A. Davidson & CO. now owns 8,609 shares of the asset manager’s stock worth $8,174,000 after purchasing an additional 1,857 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the company’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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BlackRock stock opened at $1,019.45 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $157.89 billion, a PE ratio of 25.16, a P/E/G ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $725.86 and a 12-month high of $1,068.34. The business’s 50-day moving average price is $991.35 and its two-hundred day moving average price is $885.16.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for 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 firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 EPS. As a group, analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Morgan Stanley increased their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen lifted 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com assumed coverage on BlackRock in a research report on Thursday, November 21st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

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.