BlackRock, Inc. (NYSE:BLK) Position Cut by Captrust Financial Advisors

Captrust Financial Advisors cut its position in BlackRock, Inc. (NYSE:BLK) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,640 shares of the asset manager’s stock after selling 417 shares during the quarter. Captrust Financial Advisors’ holdings in BlackRock were worth $6,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its position in shares of BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after acquiring an additional 565 shares in the last quarter. Advisors Asset Management Inc. boosted its position in BlackRock by 6.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock worth $13,162,000 after acquiring an additional 870 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of BlackRock by 20.8% in the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock worth $20,256,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its stake in shares of BlackRock by 16.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 24,265 shares of the asset manager’s stock valued at $23,040,000 after purchasing an additional 3,511 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLK. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays raised their price objective 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. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com initiated coverage on BlackRock in a research note on Friday. They set a “hold” rating for the company. Finally, Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Down 0.2 %

NYSE:BLK opened at $1,020.34 on Tuesday. The stock has a fifty day simple moving average of $994.93 and a 200 day simple moving average of $888.81. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.30. BlackRock, Inc. has a 1-year low of $742.22 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $10.91 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued 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 2.00%. BlackRock’s payout ratio is currently 50.35%.

About BlackRock

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.