FinTrust Capital Advisors LLC increased its stake in BlackRock, Inc. (NYSE:BLK) by 3,550.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219 shares of the asset manager’s stock after acquiring an additional 213 shares during the period. FinTrust Capital Advisors LLC’s holdings in BlackRock were worth $123,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC purchased a new stake in BlackRock during the third quarter valued at about $26,000. Hall Laurie J Trustee purchased a new stake in BlackRock during the third quarter valued at about $28,000. Prestige Wealth Management Group LLC boosted its position in BlackRock by 125.0% during the third quarter. Prestige Wealth Management Group LLC now owns 63 shares of the asset manager’s stock valued at $35,000 after buying an additional 35 shares during the period. Gradient Investments LLC boosted its position in BlackRock by 40.4% during the third quarter. Gradient Investments LLC now owns 73 shares of the asset manager’s stock valued at $41,000 after buying an additional 21 shares during the period. Finally, Sun Life Financial INC boosted its position in BlackRock by 33.8% during the second quarter. Sun Life Financial INC now owns 91 shares of the asset manager’s stock valued at $50,000 after buying an additional 23 shares during the period. Institutional investors own 71.18% of the company’s stock.
In other BlackRock news, Director Mark Wiedman sold 3,850 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $626.47, for a total value of $2,411,909.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 699 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $669.79, for a total transaction of $468,183.21. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by corporate insiders.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Sunday, October 18th. The asset manager reported $9.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $7.45 by $1.77. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm earned $7.15 earnings per share. BlackRock’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts expect that BlackRock, Inc. will post 32.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Friday, December 4th will be issued a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 3rd. BlackRock’s dividend payout ratio (DPR) is presently 50.98%.
Several analysts have issued reports on BLK shares. Wells Fargo & Company restated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 14th. BMO Capital Markets upped their price objective on shares of BlackRock from $594.00 to $602.00 and gave the company a “market perform” rating in a research note on Thursday, October 15th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $685.00 to $795.00 and gave the company a “buy” rating in a research note on Wednesday, November 11th. Citigroup upped their price objective on shares of BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Finally, Barclays upped their price objective on shares of BlackRock from $625.00 to $700.00 in a research note on Wednesday, October 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average price target of $644.58.
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.
Featured Article: Technical Analysis
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.