Handelsbanken Fonder AB Buys 390 Shares of BlackRock, Inc. (NYSE:BLK)

Handelsbanken Fonder AB boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,217 shares of the asset manager’s stock after acquiring an additional 390 shares during the period. Handelsbanken Fonder AB’s holdings in BlackRock were worth $44,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC acquired a new position in BlackRock in the first quarter valued at about $27,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter worth approximately $28,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the 2nd quarter worth approximately $31,000. Lam Group Inc. acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new position in BlackRock in the fourth quarter valued at approximately $35,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 0.2 %

NYSE BLK traded down $2.30 on Friday, reaching $949.19. The company had a trading volume of 491,906 shares, compared to its average volume of 575,968. The firm has a market cap of $141.05 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30. 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 fifty-two week low of $596.18 and a fifty-two week high of $960.74. The business has a 50 day moving average of $890.01 and a two-hundred day moving average of $826.67.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the company earned $9.28 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BLK shares. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Citigroup increased their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday. Finally, TD Cowen dropped their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $932.71.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 over the last quarter. Insiders own 0.90% of the company’s stock.

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.