Prospera Private Wealth LLC Invests $216,000 in BlackRock, Inc. (NYSE:BLK)

Prospera Private Wealth LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 227 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC acquired a new position in BlackRock in the second quarter valued at $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC lifted 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 purchasing an additional 20 shares in the last quarter. Addison Advisors LLC lifted its stake in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of BlackRock during the second quarter worth about $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BLK. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, StockNews.com initiated coverage on BlackRock in a research report on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,024.67 on Thursday. 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 stock has a 50 day simple moving average of $978.33 and a 200-day simple moving average of $876.59. The company has a market cap of $158.70 billion, a PE ratio of 25.29, a P/E/G 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.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.91 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

BlackRock Company 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.