Portfolio Design Labs LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Portfolio Design Labs LLC lifted its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 314.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,430 shares of the asset manager's stock after buying an additional 1,844 shares during the period. Portfolio Design Labs LLC's holdings in BlackRock were worth $2,307,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Fairscale Capital LLC purchased a new position in BlackRock during the 2nd quarter valued at about $31,000. Reston Wealth Management LLC bought a new stake in BlackRock during the 3rd quarter valued at approximately $37,000. MFA Wealth Advisors LLC boosted its position in shares of 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 in the last quarter. Addison Advisors LLC boosted its position in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager's stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in BlackRock in the 3rd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BLK shares. JPMorgan Chase & Co. upped their price objective on BlackRock from $864.00 to $914.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. TD Cowen boosted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Evercore ISI upped their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,019.62.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm's stock in a transaction 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 sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

BlackRock Trading Down 0.3 %

NYSE:BLK traded down $3.44 on Wednesday, hitting $1,024.67. The stock had a trading volume of 578,911 shares, compared to its average volume of 575,236. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $158.70 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.87 and a beta of 1.30. The company has a fifty day moving average price of $975.38 and a two-hundred day moving average price of $875.55. BlackRock, Inc. has a 1-year low of $718.72 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK - Get Free Report) last issued 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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $10.91 EPS. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock's dividend payout ratio 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.