BlackRock, Inc. (NYSE:BLK) Shares Sold by BNP Paribas

BNP Paribas lessened its stake in BlackRock, Inc. (NYSE:BLK) by 11.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,774 shares of the asset manager’s stock after selling 987 shares during the period. BNP Paribas’ holdings in BlackRock were worth $7,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC raised its position in BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares during the last quarter. Ameriprise Financial Inc. raised its position in BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Legal & General Group Plc grew its position in BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. Barclays increased their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was 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 owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Down 0.5 %

BLK stock opened at $1,026.24 on Wednesday. BlackRock, Inc. has a 52 week low of $724.54 and a 52 week high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $158.94 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.84 and a beta of 1.30. The company’s 50-day moving average price is $989.43 and its 200 day moving average price is $884.21.

BlackRock (NYSE:BLK) last posted 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 company 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%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.91 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 annualized dividend and a dividend yield of 1.99%. BlackRock’s dividend payout ratio is currently 50.35%.

BlackRock Profile

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.