Daiwa Securities Group Inc. Purchases 1,620 Shares of BlackRock, Inc. (NYSE:BLK)

Daiwa Securities Group Inc. raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,583 shares of the asset manager’s stock after purchasing an additional 1,620 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BlackRock were worth $17,645,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock in the third quarter worth approximately $37,000. MFA Wealth Advisors LLC lifted its holdings 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 valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in BlackRock during the second quarter worth $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BLK shares. 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 research note on Thursday, October 3rd. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays lifted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com started coverage on BlackRock in a report on Thursday. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.8 %

Shares of BLK opened at $1,036.46 on Monday. BlackRock, Inc. has a fifty-two week low of $724.54 and a fifty-two week high of $1,068.34. The business has a 50-day moving average of $984.28 and a 200 day moving average of $880.90. The firm has a market cap of $160.53 billion, a P/E 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 (NYSE:BLK) last posted 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 company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.91 earnings per share. As a group, research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current 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 $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

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.