Ferguson Wellman Capital Management Inc. Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Ferguson Wellman Capital Management Inc. boosted its stake in BlackRock, Inc. (NYSE:BLK) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,521 shares of the asset manager’s stock after purchasing an additional 573 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in BlackRock were worth $14,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtus ETF Advisers LLC purchased a new stake in BlackRock in the second quarter valued at approximately $27,000. Massey Quick Simon & CO. LLC purchased a new stake in BlackRock in the second quarter valued at approximately $31,000. MRA Associates USA LLC purchased a new stake in BlackRock in the second quarter valued at approximately $33,000. Ellevest Inc. raised its stake in BlackRock by 89.2% in the second quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 33 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new stake in BlackRock in the second quarter valued at approximately $33,000. 81.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of BLK stock traded up $10.69 during trading hours on Tuesday, hitting $444.90. 631,376 shares of the company’s stock were exchanged, compared to its average volume of 614,750. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $487.45. The company has a market capitalization of $67.08 billion, a PE ratio of 16.52, a PEG ratio of 1.58 and a beta of 1.54. The business’s 50 day simple moving average is $430.33 and its 200-day simple moving average is $446.86.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.08. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business earned $7.52 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 27.38 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Wednesday, September 4th. BlackRock’s dividend payout ratio is 49.02%.

Several research analysts have commented on BLK shares. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Co reissued a “hold” rating on shares of BlackRock in a research note on Wednesday, October 9th. Citigroup decreased their price target on shares of BlackRock from $545.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their price target on shares of BlackRock from $553.00 to $547.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $500.60.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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