BlackRock, Inc. (BLK) Shares Sold by Fifth Third Bancorp

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Fifth Third Bancorp trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 6.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 82,791 shares of the asset manager’s stock after selling 5,273 shares during the quarter. Fifth Third Bancorp owned about 0.05% of BlackRock worth $39,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Truvestments Capital LLC purchased a new position in BlackRock in the third quarter worth about $116,000. Canton Hathaway LLC purchased a new position in BlackRock in the third quarter worth about $146,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in BlackRock in the second quarter worth about $150,000. Legacy Advisors LLC boosted its position in BlackRock by 79.8% in the third quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after purchasing an additional 150 shares during the last quarter. Finally, Clarus Wealth Advisors boosted its position in BlackRock by 44.3% in the third quarter. Clarus Wealth Advisors now owns 355 shares of the asset manager’s stock worth $167,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

Several research analysts have issued reports on the company. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Deutsche Bank raised their target price on BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. raised BlackRock to an “overweight” rating in a research report on Tuesday, October 9th. Morgan Stanley dropped their target price on BlackRock from $607.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, October 9th. Finally, UBS Group dropped their target price on BlackRock from $575.00 to $565.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $548.86.

In related news, Director J. Richard Kushel sold 2,100 shares of BlackRock stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $419.11, for a total transaction of $880,131.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William E. Ford bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The shares were acquired at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the purchase, the director now directly owns 9,466 shares in the company, valued at approximately $3,741,057.86. The disclosure for this purchase can be found here. 1.86% of the stock is owned by insiders.

BLK stock opened at $393.10 on Friday. BlackRock, Inc. has a twelve month low of $376.31 and a twelve month high of $594.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. The stock has a market cap of $63.12 billion, a PE ratio of 17.39, a P/E/G ratio of 1.33 and a beta of 1.55.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the firm earned $5.76 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 27.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $3.13 per share. The ex-dividend date is Thursday, December 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.18%. BlackRock’s payout ratio is currently 55.40%.

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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