Intech Investment Management LLC Has $6.23 Million Position in BlackRock, Inc. (NYSE:BLK)

Intech Investment Management LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,558 shares of the asset manager’s stock after selling 1,470 shares during the period. Intech Investment Management LLC’s holdings in BlackRock were worth $6,227,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BLK. Ameriprise Financial Inc. increased its position in BlackRock by 2.9% in 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 buying an additional 46,728 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of 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 acquiring an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in BlackRock by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after purchasing an additional 17,087 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

BLK stock opened at $1,036.46 on Friday. The company has a market capitalization of $160.53 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current 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 50 day moving average price is $984.28 and its two-hundred day moving average price is $879.49.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the company earned $10.91 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.97%. BlackRock’s payout ratio is 50.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLK. The Goldman Sachs Group upped their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays raised their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their target price 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

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.