Swedbank AB Sells 58 Shares of BlackRock, Inc. (NYSE:BLK)

Swedbank AB trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,756 shares of the asset manager’s stock after selling 58 shares during the period. Swedbank AB owned 0.07% of BlackRock worth $97,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairscale Capital LLC acquired a new stake in shares of BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock during the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC grew its position in shares of BlackRock by 100.0% during the 3rd 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 period. Addison Advisors LLC increased its stake in BlackRock by 81.5% in 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 in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in BlackRock in the 3rd quarter valued at about $54,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

NYSE:BLK opened at $1,036.46 on Monday. The company has a market cap of $160.53 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.83 and a beta of 1.30. The stock’s 50 day simple moving average is $984.28 and its two-hundred day simple moving average is $880.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1 year low of $724.54 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm earned $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. StockNews.com started coverage on BlackRock in a research report on Thursday. They issued a “hold” rating for the company. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

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.