First Horizon Advisors Inc. Has $2.53 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

First Horizon Advisors Inc. decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,660 shares of the asset manager’s stock after selling 308 shares during the quarter. First Horizon Advisors Inc.’s holdings in BlackRock were worth $2,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marino Stram & Associates LLC lifted its holdings in shares of 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 period. Onyx Bridge Wealth Group LLC lifted its holdings in BlackRock by 3.5% during 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 period. Ballentine Partners LLC increased its stake in shares of BlackRock by 0.3% in the third 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. raised its position in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of 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 period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BLK shares. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com began coverage on BlackRock in a research note on Thursday. They issued a “hold” rating on the stock. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, TD Cowen lifted 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 company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Performance

NYSE BLK opened at $1,024.67 on Thursday. The company’s 50 day moving average is $978.33 and its 200-day moving average is $876.59. The firm has a market cap of $158.70 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $718.72 and a 12-month 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.

BlackRock (NYSE:BLK) last announced 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the business earned $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 1.99%. BlackRock’s dividend payout ratio is currently 50.35%.

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.