BBR Partners LLC Sells 12 Shares of BlackRock, Inc. (NYSE:BLK)

BBR Partners LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 996 shares of the asset manager’s stock after selling 12 shares during the period. BBR Partners LLC’s holdings in BlackRock were worth $946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fairscale Capital LLC acquired a new stake in BlackRock in the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC grew its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. Addison Advisors LLC increased its position in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the period. Finally, Olistico Wealth LLC acquired a new position in BlackRock during the 2nd quarter valued at $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The stock was 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 directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, StockNews.com initiated coverage on BlackRock in a research note on Thursday, November 21st. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Trading Down 0.7 %

Shares of NYSE BLK opened at $1,019.45 on Thursday. BlackRock, Inc. has a 1-year low of $725.86 and a 1-year high of $1,068.34. The company has a 50-day moving average of $991.35 and a two-hundred day moving average of $885.16. The company 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. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. BlackRock’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.91 EPS. As a group, equities 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. Investors of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio is 50.35%.

BlackRock 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.