Independent Advisor Alliance Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Independent Advisor Alliance cut its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,719 shares of the asset manager's stock after selling 905 shares during the quarter. Independent Advisor Alliance's holdings in BlackRock were worth $2,581,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in shares of BlackRock by 9.5% during the 1st quarter. Lazard Asset Management LLC now owns 938 shares of the asset manager's stock valued at $781,000 after acquiring an additional 81 shares during the period. Waverly Advisors LLC increased its stake in shares of BlackRock by 405.1% in the first quarter. Waverly Advisors LLC now owns 2,652 shares of the asset manager's stock valued at $2,210,000 after buying an additional 2,127 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in BlackRock by 22.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,097 shares of the asset manager's stock worth $3,416,000 after purchasing an additional 763 shares during the period. Comerica Bank grew its stake in BlackRock by 1.3% during the first quarter. Comerica Bank now owns 56,419 shares of the asset manager's stock worth $47,036,000 after purchasing an additional 720 shares during the period. Finally, Beacon Capital Management LLC boosted its holdings in BlackRock by 24.7% in the first quarter. Beacon Capital Management LLC now owns 106 shares of the asset manager's stock worth $88,000 after acquiring an additional 21 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This represents a 64.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Down 0.5 %

BLK stock traded down $5.25 during midday trading on Tuesday, hitting $1,026.24. The company's stock had a trading volume of 772,734 shares, compared to its average volume of 580,129. The firm's 50-day moving average is $989.43 and its 200-day moving average is $884.21. The company has a market cap of $158.94 billion, a PE ratio of 25.33, a P/E/G ratio of 1.85 and a beta of 1.30. 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, Inc. has a 12 month low of $724.54 and a 12 month high of $1,068.34.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share 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 analysts' expectations of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company's revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.91 EPS. On average, equities research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. BlackRock's dividend payout ratio (DPR) is 50.35%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BLK shares. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Barclays raised their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Morgan Stanley increased their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,019.62.

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.