Fisher Asset Management LLC Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Fisher Asset Management LLC lifted its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,192,247 shares of the asset manager's stock after acquiring an additional 40,865 shares during the period. Fisher Asset Management LLC owned 1.48% of BlackRock worth $2,081,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in BlackRock in the second quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock in the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC increased its stake 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 worth $38,000 after acquiring an additional 20 shares during the period. Addison Advisors LLC raised its holdings in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager's stock worth $47,000 after purchasing an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in BlackRock during the third quarter valued at $54,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

NYSE BLK traded down $4.97 during mid-day trading on Monday, hitting $1,031.49. The stock had a trading volume of 1,461,963 shares, compared to its average volume of 579,282. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm's 50 day moving average is $987.00 and its 200 day moving average is $882.60. The stock has a market capitalization of $159.76 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK - Get Free Report) last issued its 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 business had revenue of $5.20 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $10.91 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock's dividend payout ratio is currently 50.35%.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the business's stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Evercore ISI raised their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Barclays upped their price objective 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. JPMorgan Chase & Co. raised their target price on BlackRock from $864.00 to $914.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Finally, Morgan Stanley upped their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,019.62.

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.