Quantinno Capital Management LP Acquires 1,834 Shares of BlackRock, Inc. (NYSE:BLK)

Quantinno Capital Management LP increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 21.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,192 shares of the asset manager’s stock after purchasing an additional 1,834 shares during the quarter. Quantinno Capital Management LP’s holdings in BlackRock were worth $9,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth approximately $26,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the second quarter worth approximately $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth approximately $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares during the period. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

Shares of BLK opened at $1,045.80 on Friday. BlackRock, Inc. has a 12 month low of $742.22 and a 12 month high of $1,068.34. The firm has a fifty day simple moving average of $1,002.48 and a 200 day simple moving average of $893.96. The stock has a market capitalization of $161.97 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.85 and a beta of 1.28. 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 43.3 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLK shares. The Goldman Sachs Group boosted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, StockNews.com began coverage on shares of BlackRock in a report on Friday, November 29th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.