BlackRock, Inc. (NYSE:BLK) Shares Bought by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,236 shares of the asset manager’s stock after purchasing an additional 11 shares during the period. Noesis Capital Mangement Corp’s holdings in BlackRock were worth $1,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in BlackRock by 9.5% in the first quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager’s stock valued at $781,000 after buying an additional 81 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of BlackRock by 15.7% during the first quarter. Citizens Financial Group Inc. RI now owns 532 shares of the asset manager’s stock worth $444,000 after acquiring an additional 72 shares during the last quarter. LRI Investments LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $70,000. Swedbank AB purchased a new stake in BlackRock in the 1st quarter valued at $86,282,000. Finally, PGGM Investments boosted its stake in BlackRock by 204.2% during the 1st quarter. PGGM Investments now owns 4,095 shares of the asset manager’s stock worth $3,414,000 after purchasing an additional 2,749 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Trading Down 0.7 %

Shares of BLK stock 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 debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business’s fifty day moving average price is $991.35 and its 200 day moving average price is $885.16. The firm has a market capitalization 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping 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 net margin of 31.37% and a return on equity of 15.52%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $10.91 EPS. As a group, sell-side analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.00%. BlackRock’s payout ratio is 50.35%.

Insider Transactions at BlackRock

In other 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com began coverage on BlackRock in a research report on Thursday, November 21st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on 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 boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

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.