Glenmede Trust Co. NA Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Glenmede Trust Co. NA decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 79,337 shares of the asset manager’s stock after selling 434 shares during the period. Glenmede Trust Co. NA’s holdings in BlackRock were worth $75,331,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC grew its stake in shares of 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 buying an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC grew its position in BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares in the last quarter. FMR LLC lifted its position in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of BlackRock in the third quarter valued at $115,377,000. Finally, Sarasin & Partners LLP boosted its stake in shares of BlackRock by 174.8% in the second 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. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 6,480 shares in the company, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BLK. TD Cowen raised 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. Wells Fargo & Company lifted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Performance

NYSE:BLK opened at $1,026.24 on Wednesday. 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 50-day moving average of $989.43 and a 200-day moving average of $884.21. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The firm has a market cap of $158.94 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.91 earnings per share. Analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis 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.