Fmr LLC Raises Stock Position in BlackRock, Inc. (NYSE:BLK)

FMR LLC increased its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,363,965 shares of the asset manager's stock after purchasing an additional 226,135 shares during the period. FMR LLC owned approximately 1.60% of BlackRock worth $2,244,608,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BLK. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth approximately $37,000. MFA Wealth Advisors LLC grew its holdings 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 purchasing an additional 20 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of BlackRock by 81.5% in 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, Olistico Wealth LLC bought a new position in shares of BlackRock in the second quarter worth approximately $53,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In related 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 transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company's stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BLK shares. Wells Fargo & Company raised their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. StockNews.com began coverage on BlackRock in a research note on Thursday, November 21st. They issued a "hold" rating for the company. Barclays raised their price objective on 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, Evercore ISI increased their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an "outperform" rating in a research note 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,019.62.

BlackRock Price Performance

Shares of BLK stock traded down $5.01 on Tuesday, hitting $1,026.48. 759,969 shares of the stock traded hands, compared to its average volume of 579,009. The firm has a market cap of $158.98 billion, a price-to-earnings ratio of 25.46, 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 firm has a 50 day simple moving average of $987.00 and a two-hundred day simple moving average of $882.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for 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 last year, the firm earned $10.91 EPS. As a group, equities research analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock's payout ratio 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.