Paloma Partners Management Co Sells 636 Shares of BlackRock, Inc. (NYSE:BLK)

Paloma Partners Management Co trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 36.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,100 shares of the asset manager’s stock after selling 636 shares during the quarter. Paloma Partners Management Co’s holdings in BlackRock were worth $1,044,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of BlackRock during the third quarter valued at about $26,000. Fairscale Capital LLC purchased a new stake in BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the period. Finally, Addison Advisors LLC lifted its position in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,020.34 on Tuesday. The company’s fifty day moving average price is $994.93 and its 200-day moving average price is $888.81. The stock has a market cap of $158.03 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.82 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, Inc. has a 12 month low of $742.22 and a 12 month high of $1,068.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm posted $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen lifted their target price 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. StockNews.com began coverage on shares of BlackRock in a research report on Friday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, 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 report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

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.