Financial Council LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Financial Council LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 231 shares of the asset manager’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in shares of BlackRock during the second quarter valued at $31,000. Reston Wealth Management LLC bought a new position in BlackRock in the 3rd quarter valued at approximately $37,000. MFA Wealth Advisors LLC boosted its stake in BlackRock by 100.0% during the 3rd 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 last quarter. Addison Advisors LLC increased its holdings in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock in the second quarter worth $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Trading Up 0.8 %

Shares of BLK opened at $1,036.46 on Friday. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $984.28 and its 200-day simple moving average is $879.49. The company has a market cap of $160.53 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the firm earned $10.91 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on 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 $5,832,000. This trade represents a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.