Massachusetts Financial Services Co. MA Has $1.02 Billion Stake in BlackRock, Inc. (NYSE:BLK)

Massachusetts Financial Services Co. MA trimmed its position in BlackRock, Inc. (NYSE:BLK) by 1.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,073,159 shares of the asset manager’s stock after selling 18,654 shares during the period. Massachusetts Financial Services Co. MA’s holdings in BlackRock were worth $1,018,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BLK. Fairscale Capital LLC bought a new position in BlackRock during the second quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC increased its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the period. Addison Advisors LLC raised its stake in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in BlackRock during the second quarter worth $53,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BlackRock stock opened at $1,024.67 on Thursday. The stock has a market cap of $158.70 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.83 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $718.72 and a 12-month high of $1,068.34. The business’s 50-day simple moving average is $978.33 and its 200 day simple moving average is $876.59.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock’s dividend payout ratio is 50.35%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays lifted their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by insiders.

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.