Prudential PLC Lowers Holdings in BlackRock, Inc. (NYSE:BLK)

Prudential PLC trimmed its holdings in BlackRock, Inc. (NYSE:BLKGet Rating) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,836 shares of the asset manager’s stock after selling 134 shares during the quarter. Prudential PLC’s holdings in BlackRock were worth $4,163,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of BlackRock by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 12,511,310 shares of the asset manager’s stock worth $9,560,768,000 after acquiring an additional 275,176 shares in the last quarter. BlackRock Inc. boosted its stake in shares of BlackRock by 1.4% during the 1st quarter. BlackRock Inc. now owns 10,279,628 shares of the asset manager’s stock worth $7,855,383,000 after acquiring an additional 138,542 shares in the last quarter. Capital International Investors boosted its stake in shares of BlackRock by 9.0% during the 1st quarter. Capital International Investors now owns 3,582,460 shares of the asset manager’s stock worth $2,737,701,000 after acquiring an additional 294,408 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of BlackRock by 15.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock worth $1,777,933,000 after acquiring an additional 310,256 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of BlackRock by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock worth $1,463,536,000 after acquiring an additional 15,290 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 0.4 %

BLK stock opened at $736.32 on Thursday. The company has a market cap of $110.60 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.85 and a beta of 1.29. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a 12 month low of $503.12 and a 12 month high of $939.41. The firm has a 50-day moving average of $628.27 and a two-hundred day moving average of $641.83.

BlackRock (NYSE:BLKGet Rating) last released its quarterly earnings data on Thursday, October 13th. The asset manager reported $9.55 EPS for the quarter, beating analysts’ consensus estimates of $7.73 by $1.82. BlackRock had a net margin of 29.84% and a return on equity of 15.07%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the prior year, the firm earned $10.95 EPS. BlackRock’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 33.88 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be paid a $4.88 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $19.52 annualized dividend and a dividend yield of 2.65%. BlackRock’s dividend payout ratio (DPR) is 53.79%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of BlackRock in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on shares of BlackRock from $773.00 to $754.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $716.00 to $666.00 and set an “overweight” rating for the company in a research report on Friday, October 14th. BMO Capital Markets reduced their price target on shares of BlackRock from $495.00 to $481.00 and set a “market perform” rating for the company in a research report on Friday, October 14th. Finally, UBS Group downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $700.00 to $585.00 in a research report on Tuesday, October 11th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $703.92.

Insider Activity

In other news, Director Rachel Lord sold 3,950 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $773.41, for a total value of $3,054,969.50. Following the completion of the sale, the director now owns 8,319 shares of the company’s stock, valued at approximately $6,433,997.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Rachel Lord sold 3,950 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $773.41, for a total value of $3,054,969.50. Following the completion of the sale, the director now owns 8,319 shares of the company’s stock, valued at approximately $6,433,997.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Manish Mehta sold 1,350 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $742.81, for a total transaction of $1,002,793.50. Following the completion of the sale, the director now directly owns 10,059 shares of the company’s stock, valued at approximately $7,471,925.79. The disclosure for this sale can be found here. Insiders sold a total of 60,860 shares of company stock valued at $44,060,191 in the last 90 days. Company insiders own 1.06% of the company’s stock.

BlackRock Profile

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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