BlackRock, Inc. (NYSE:BLK) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its stake in BlackRock, Inc. (NYSE:BLK) by 1,150.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150 shares of the asset manager’s stock after acquiring an additional 138 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in BlackRock were worth $142,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. raised its position in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after acquiring an additional 565 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of BlackRock by 219.5% in the first quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after acquiring an additional 30,274 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of BlackRock by 6.7% during the third quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock worth $13,162,000 after purchasing an additional 870 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after purchasing an additional 884 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLK. Barclays upped their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday, November 21st. They set a “hold” rating for the company. The Goldman Sachs Group raised 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. TD Cowen upped their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. 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, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

NYSE BLK opened at $1,019.45 on Thursday. The stock 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. BlackRock, Inc. has a twelve month low of $725.86 and a twelve month high of $1,068.34. The stock has a fifty day simple moving average of $991.35 and a 200-day simple moving average of $885.16. 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 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 firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter last year, the company posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

About BlackRock

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.