Associated Banc Corp Has $28.69 Million Position in BlackRock, Inc. (NYSE:BLK)

Associated Banc Corp trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,212 shares of the asset manager's stock after selling 601 shares during the period. Associated Banc Corp's holdings in BlackRock were worth $28,687,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marino Stram & Associates LLC grew its holdings in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager's stock worth $3,227,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager's stock valued at $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC raised its position in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock worth $3,251,000 after purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager's stock worth $2,829,000 after buying an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in BlackRock by 0.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager's stock worth $1,447,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a "buy" rating in a report on Monday, November 11th. TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the 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.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value 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. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Down 0.5 %

Shares of BLK stock traded down $4.97 during trading hours on Monday, hitting $1,031.49. 1,461,963 shares of the company were exchanged, compared to its average volume of 579,282. The company has a market capitalization of $159.76 billion, a PE ratio of 25.58, a PEG ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $724.54 and a 52 week high of $1,068.34. The business has a 50 day moving average of $984.28 and a two-hundred day moving average of $880.90. 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 - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 15.52% and a net margin of 31.37%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $10.91 earnings per share. Analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.98%. BlackRock's dividend payout ratio (DPR) is presently 50.35%.

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.