Atlantic Union Bankshares Corp Has $2.53 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Atlantic Union Bankshares Corp lessened its stake in BlackRock, Inc. (NYSE:BLK) by 1.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,663 shares of the asset manager’s stock after selling 45 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in BlackRock were worth $2,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Fairscale Capital LLC acquired a new stake in BlackRock in the second quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC lifted its stake in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Addison Advisors LLC grew its holdings in BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in BlackRock in the third quarter valued at approximately $54,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. Deutsche Bank Aktiengesellschaft boosted 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. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Friday. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Up 0.3 %

Shares of BLK opened at $1,022.80 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12 month low of $742.22 and a 12 month high of $1,068.34. The firm’s 50 day moving average is $994.93 and its 200-day moving average is $887.71. The stock has a market capitalization of $158.41 billion, a PE ratio of 25.24, a P/E/G ratio of 1.82 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $10.91 EPS. Equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio is currently 50.35%.

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.