Strategic Wealth Partners Ltd. Acquires 3,416 Shares of BlackRock, Inc. (NYSE:BLK)

Strategic Wealth Partners Ltd. grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1,207.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,699 shares of the asset manager’s stock after acquiring an additional 3,416 shares during the period. Strategic Wealth Partners Ltd.’s holdings in BlackRock were worth $3,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BLK. XML Financial LLC grew its position in shares of BlackRock by 15.4% during the 4th quarter. XML Financial LLC now owns 411 shares of the asset manager’s stock valued at $333,000 after acquiring an additional 55 shares during the period. Greystone Financial Group LLC bought a new position in BlackRock in the 4th quarter worth $231,000. Ethic Inc. boosted its holdings in BlackRock by 7.5% in the 4th quarter. Ethic Inc. now owns 7,044 shares of the asset manager’s stock worth $5,719,000 after buying an additional 492 shares during the period. First Financial Bankshares Inc bought a new position in BlackRock in the 4th quarter worth $52,136,000. Finally, RMB Capital Management LLC boosted its holdings in BlackRock by 16.3% in the 4th quarter. RMB Capital Management LLC now owns 11,762 shares of the asset manager’s stock worth $9,549,000 after buying an additional 1,649 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $949.07 on Wednesday. The company has a market capitalization of $141.03 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $960.74. The firm’s 50-day moving average is $893.10 and its 200 day moving average is $828.30. 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 (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.28 EPS. Research analysts predict that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Citigroup boosted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. TD Cowen decreased their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $1,036.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $943.93.

Insider Activity at BlackRock

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

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.