Citizens Financial Group Inc. RI Has $3.10 Million Stake in BlackRock, Inc. (NYSE:BLK)

Citizens Financial Group Inc. RI grew its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 43.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,260 shares of the asset manager's stock after purchasing an additional 994 shares during the quarter. Citizens Financial Group Inc. RI's holdings in BlackRock were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in BlackRock by 219.5% in the 1st 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 period. Fifth Third Wealth Advisors LLC grew its position in BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager's stock worth $3,169,000 after purchasing an additional 565 shares during the last quarter. GAMMA Investing LLC grew its position in BlackRock by 62.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager's stock worth $1,804,000 after purchasing an additional 884 shares during the last quarter. Aptus Capital Advisors LLC grew its position in BlackRock by 20.8% in the 3rd quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager's stock worth $20,256,000 after purchasing an additional 3,675 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in BlackRock by 6.7% in the 3rd 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 during the last quarter. Institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Barclays lifted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus price target of $1,019.62.

Insider Buying and Selling

In other 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 value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

Shares of NYSE BLK traded up $8.46 during trading on Friday, reaching $1,036.46. The company had a trading volume of 653,764 shares, compared to its average volume of 575,218. BlackRock, Inc. has a 52 week low of $724.54 and a 52 week high of $1,068.34. The stock has a market cap of $160.53 billion, a PE ratio of 25.48, a PEG 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. The business's 50 day moving average price is $981.26 and its 200-day moving average price is $877.67.

BlackRock (NYSE:BLK - Get Free Report) last announced its 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. Analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis 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 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.