BlackRock, Inc. (NYSE:BLK) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,344 shares of the asset manager’s stock after selling 70 shares during the quarter. SageView Advisory Group LLC’s holdings in BlackRock were worth $1,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Marino Stram & Associates LLC lifted its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its position in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after acquiring an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

NYSE:BLK opened at $1,045.80 on Friday. BlackRock, Inc. has a 52-week low of $742.22 and a 52-week high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $161.97 billion, a P/E ratio of 25.81, a PEG ratio of 1.85 and a beta of 1.28. The business’s 50-day moving average price is $1,002.48 and its 200 day moving average price is $893.96.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business 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 business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $10.91 EPS. As a group, sell-side analysts predict that BlackRock, Inc. will post 43.3 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 issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on BlackRock in a research report on Friday, November 29th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their target price 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. Barclays boosted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.