Resources Management Corp CT ADV Acquires New Shares in BlackRock, Inc. (NYSE:BLK)

Resources Management Corp CT ADV acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,385 shares of the asset manager’s stock, valued at approximately $6,856,000. BlackRock comprises about 1.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also recently modified their holdings of BLK. Virtus ETF Advisers LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $27,000. Garrett Wealth Advisory Group LLC acquired a new position in BlackRock during the third quarter worth about $30,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $31,000. MRA Associates USA LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of BlackRock in the second quarter valued at approximately $33,000. 81.36% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Gary Shedlin sold 3,995 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $490.96, for a total transaction of $1,961,385.20. Also, insider Jerkovic Milan 3,000,000 shares of BlackRock stock in a transaction dated Thursday, October 24th. Insiders have sold 6,095 shares of company stock worth $2,900,567 in the last 90 days. Insiders own 1.42% of the company’s stock.

A number of research analysts have recently weighed in on BLK shares. Morgan Stanley raised their price objective on shares of BlackRock from $547.00 to $554.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets assumed coverage on BlackRock in a research note on Monday, October 7th. They issued a “market perform” rating and a $547.00 target price on the stock. Deutsche Bank increased their target price on BlackRock from $543.00 to $546.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Credit Suisse Group set a $567.00 price target on BlackRock and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Citigroup cut their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $507.34.

Shares of BLK traded up $0.93 on Wednesday, hitting $486.69. 729,748 shares of the stock traded hands, compared to its average volume of 559,781. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $496.90. The stock’s 50 day moving average is $475.23 and its two-hundred day moving average is $451.43. The firm has a market capitalization of $76.40 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.74 and a beta of 1.54. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.76.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 15th. The asset manager reported $7.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. BlackRock had a net margin of 29.31% and a return on equity of 12.95%. BlackRock’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $7.52 EPS. Research analysts forecast that BlackRock, Inc. will post 27.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 49.02%.

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.

Read More: Short Selling

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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