Garner Asset Management Corp Lowers Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Garner Asset Management Corp trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,712 shares of the asset manager’s stock after selling 19 shares during the period. BlackRock comprises 1.2% of Garner Asset Management Corp’s holdings, making the stock its 24th biggest holding. Garner Asset Management Corp’s holdings in BlackRock were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BLK. Fairscale Capital LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC raised its holdings 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 valued at $38,000 after purchasing an additional 20 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at about $53,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,036.46 on Friday. The company’s fifty day moving average price is $984.28 and its 200 day moving average price is $880.18. BlackRock, Inc. has a 1 year low of $724.54 and a 1 year high of $1,068.34. The company has a market capitalization of $160.53 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.03 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BLK. The Goldman Sachs Group boosted their price objective on shares of 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 shares of BlackRock in a research note on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Evercore ISI boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’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 in the company, valued at approximately $5,832,000. This 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 hyperlink. 0.90% of the stock is currently owned by insiders.

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.