Logan Capital Management Inc. Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Logan Capital Management Inc. cut its holdings in BlackRock, Inc. (NYSE:BLK) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the asset manager’s stock after selling 27 shares during the period. Logan Capital Management Inc.’s holdings in BlackRock were worth $1,768,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BLK. ORG Partners LLC lifted its position in shares of BlackRock by 257.9% in the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after purchasing an additional 49 shares during the period. Blue Trust Inc. boosted its holdings in shares of BlackRock by 32.4% during the 2nd quarter. Blue Trust Inc. now owns 678 shares of the asset manager’s stock valued at $565,000 after acquiring an additional 166 shares during the last quarter. Brookstone Capital Management grew its position in BlackRock by 21.4% in the 2nd quarter. Brookstone Capital Management now owns 708 shares of the asset manager’s stock worth $596,000 after purchasing an additional 125 shares during the period. ARS Wealth Advisors Group LLC grew its holdings in shares of BlackRock by 0.5% in the second quarter. ARS Wealth Advisors Group LLC now owns 2,766 shares of the asset manager’s stock worth $2,177,000 after acquiring an additional 14 shares during the period. Finally, Portman Square Capital LLP grew its stake in shares of BlackRock by 104.6% during the 2nd quarter. Portman Square Capital LLP now owns 465 shares of the asset manager’s stock valued at $366,000 after purchasing an additional 10,500 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.83, for a total transaction of $18,824,940.00. Following the sale, the general counsel now owns 8,628 shares in the company, valued at $9,023,421.24. This represents a 67.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock worth $113,161,681 in the last quarter. 0.90% of the stock is owned by corporate insiders.

BlackRock Trading Down 0.2 %

Shares of BLK opened at $1,056.60 on Friday. The firm has a market cap of $163.65 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The company has a 50 day simple moving average of $1,015.33 and a two-hundred day simple moving average of $904.88.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the company posted $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, December 5th. BlackRock’s payout ratio is presently 50.35%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays raised their target price on BlackRock from $1,120.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,039.17.

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.