BlackRock, Inc. (BLK) Holdings Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,707 shares of the asset manager’s stock after acquiring an additional 3,217 shares during the period. Janney Montgomery Scott LLC’s holdings in BlackRock were worth $16,411,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Valeo Financial Advisors LLC purchased a new stake in shares of BlackRock in the 3rd quarter valued at about $550,000. Point72 Asset Management L.P. increased its position in shares of BlackRock by 101.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 111,716 shares of the asset manager’s stock valued at $49,947,000 after purchasing an additional 56,362 shares during the last quarter. Cedar Hill Associates LLC bought a new position in shares of BlackRock during the 3rd quarter valued at about $247,000. Beacon Investment Advisory Services Inc. bought a new position in shares of BlackRock during the 3rd quarter valued at about $359,000. Finally, Patten Group Inc. increased its position in shares of BlackRock by 251.5% during the 3rd quarter. Patten Group Inc. now owns 1,487 shares of the asset manager’s stock valued at $200,000 after purchasing an additional 1,064 shares during the last quarter. 83.74% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the company. J P Morgan Chase & Co increased their price objective on BlackRock to $558.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $500.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research report on Friday, August 18th. Finally, BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $489.08.

In other news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,200 shares of company stock worth $2,599,302. Corporate insiders own 1.86% of the company’s stock.

BlackRock, Inc. (BLK) opened at $515.49 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. BlackRock, Inc. has a 1 year low of $365.83 and a 1 year high of $517.30. The stock has a market capitalization of $82,649.54, a P/E ratio of 23.92, a P/E/G ratio of 1.79 and a beta of 1.81.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $5.14 EPS. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. analysts predict that BlackRock, Inc. will post 22.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a $2.50 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.94%. BlackRock’s dividend payout ratio is currently 46.82%.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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