BlackRock, Inc. (NYSE:BLK) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co increased its position in BlackRock, Inc. (NYSE:BLK) by 37.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,542 shares of the asset manager’s stock after acquiring an additional 1,766 shares during the period. Fiduciary Trust Co’s holdings in BlackRock were worth $6,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BlackRock by 1.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,186 shares of the asset manager’s stock valued at $58,097,000 after purchasing an additional 716 shares during the period. First Commonwealth Financial Corp PA increased its position in BlackRock by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 1,080 shares of the asset manager’s stock valued at $1,025,000 after acquiring an additional 14 shares during the period. Townsquare Capital LLC raised its stake in BlackRock by 11.9% during the 3rd quarter. Townsquare Capital LLC now owns 8,073 shares of the asset manager’s stock valued at $7,665,000 after acquiring an additional 857 shares in the last quarter. BNP Paribas Financial Markets boosted its position in BlackRock by 48.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 337,172 shares of the asset manager’s stock worth $320,148,000 after acquiring an additional 109,771 shares during the period. Finally, Shum Financial Group Inc. acquired a new position in shares of BlackRock during the third quarter valued at $2,182,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com initiated coverage on shares of BlackRock in a report on Friday. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Price Performance

Shares of BlackRock stock opened at $1,019.45 on Friday. BlackRock, Inc. has a fifty-two week low of $725.86 and a fifty-two week high of $1,068.34. The company has a market cap of $157.89 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The firm has a fifty day moving average price of $993.05 and a two-hundred day moving average price of $886.09. 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 (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the previous year, the company posted $10.91 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. 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.