Nicolet Advisory Services LLC Sells 35 Shares of BlackRock, Inc. (NYSE:BLK)

Nicolet Advisory Services LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,018 shares of the asset manager’s stock after selling 35 shares during the quarter. Nicolet Advisory Services LLC’s holdings in BlackRock were worth $969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GenTrust LLC purchased a new position in shares of BlackRock during the third quarter valued at approximately $408,000. Financial Council LLC bought a new stake in shares of BlackRock during the 3rd quarter worth approximately $219,000. Icon Wealth Advisors LLC boosted its holdings in BlackRock by 118.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,612 shares of the asset manager’s stock valued at $3,430,000 after acquiring an additional 1,955 shares during the period. Studio Investment Management LLC grew its position in BlackRock by 0.4% in the 3rd quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager’s stock valued at $2,921,000 after acquiring an additional 11 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,036.46 on Friday. The company has a market capitalization of $160.53 billion, a PE ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30. The company has a 50-day simple moving average of $984.28 and a two-hundred day simple moving average of $879.49. BlackRock, Inc. has a one year low of $724.54 and a one year high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during 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%. BlackRock’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.91 EPS. Research analysts expect that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Dividend Announcement

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 of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.97%. BlackRock’s payout ratio is 50.35%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BLK shares. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday. They issued a “hold” rating on the stock. Barclays lifted their price target on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their price objective on 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, Deutsche Bank Aktiengesellschaft upped their target price on 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

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.