Canopy Partners LLC Buys 63 Shares of BlackRock, Inc. (NYSE:BLK)

Canopy Partners LLC increased its stake in BlackRock, Inc. (NYSE:BLK) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the asset manager’s stock after purchasing an additional 63 shares during the quarter. Canopy Partners LLC’s holdings in BlackRock were worth $1,027,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Marino Stram & Associates LLC boosted its holdings in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after acquiring an additional 10 shares during the period. Onyx Bridge Wealth Group LLC lifted its position in BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BLK stock opened at $1,036.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. 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. BlackRock, Inc. has a 1 year low of $724.54 and a 1 year high of $1,068.34. The firm has a fifty day moving average price of $984.28 and a 200-day moving average price of $879.49.

BlackRock (NYSE:BLK) last posted its quarterly 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. 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 analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $10.91 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s payout ratio is 50.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BLK shares. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating on the stock. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley raised their price objective 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. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock 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. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.