Tobam Has $318,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Tobam lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335 shares of the asset manager’s stock after selling 27 shares during the quarter. Tobam’s holdings in BlackRock were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of BlackRock by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock valued at $1,636,052,000 after purchasing an additional 47,128 shares during the last quarter. Ameriprise Financial Inc. increased its position in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday. Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Cowen lifted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $972.23.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BLK opened at $955.57 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $894.70 and its two-hundred day simple moving average is $829.20. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $963.33. The stock has a market capitalization of $142.00 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the firm posted $9.28 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.13%. BlackRock’s payout ratio is presently 51.84%.

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.