Brown Brothers Harriman & Co. Has $28.72 Million Position in BlackRock, Inc. (NYSE:BLK)

Brown Brothers Harriman & Co. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,242 shares of the asset manager’s stock after purchasing an additional 879 shares during the period. Brown Brothers Harriman & Co.’s holdings in BlackRock were worth $28,715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC increased its position in BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in BlackRock during the 3rd quarter valued at $115,377,000. Sarasin & Partners LLP boosted its holdings in BlackRock by 174.8% in the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after purchasing an additional 117,218 shares during the period. Finally, Swedbank AB acquired a new stake in BlackRock in the 1st quarter worth $86,282,000. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. Wells Fargo & Company upped 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. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com began coverage on BlackRock in a report on Thursday. They set a “hold” rating on the stock. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Evercore ISI lifted their price target 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value 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. The trade was a 64.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,036.46 on Monday. The firm has a fifty day moving average of $984.28 and a two-hundred day moving average of $880.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market capitalization of $160.53 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a 52 week low of $724.54 and a 52 week high of $1,068.34.

BlackRock (NYSE:BLK) last released its 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. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.91 earnings per share. As a group, equities research analysts predict that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

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