Wedbush Securities Inc. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,997 shares of the asset manager’s stock after purchasing an additional 170 shares during the period. Wedbush Securities Inc.’s holdings in BlackRock were worth $941,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in BlackRock by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after purchasing an additional 153,749 shares in the last quarter. Franklin Resources Inc. increased its holdings in BlackRock by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 741,134 shares of the asset manager’s stock valued at $349,319,000 after purchasing an additional 3,976 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in BlackRock by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after purchasing an additional 12,785 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in BlackRock by 1.5% during the 2nd quarter. Mawer Investment Management Ltd. now owns 411,071 shares of the asset manager’s stock valued at $205,141,000 after purchasing an additional 5,981 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in BlackRock by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,224 shares of the asset manager’s stock valued at $182,510,000 after purchasing an additional 6,594 shares in the last quarter. 83.14% of the stock is owned by hedge funds and other institutional investors.

In related news, Director William E. Ford purchased 2,000 shares of BlackRock stock in a transaction dated 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 transaction, the director now directly owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 2,100 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total value of $880,131.00. The disclosure for this sale can be found here. 1.86% of the stock is owned by company insiders.

NYSE BLK opened at $405.97 on Friday. The firm has a market capitalization of $64.46 billion, a PE ratio of 17.96, a PEG ratio of 1.36 and a beta of 1.55. BlackRock, Inc. has a 52 week low of $376.31 and a 52 week high of $594.52. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a $3.13 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $12.52 annualized dividend and a dividend yield of 3.08%. BlackRock’s dividend payout ratio is currently 55.40%.

A number of equities research analysts recently weighed in on BLK shares. Deutsche Bank reaffirmed a “buy” rating and set a $550.00 price target (down from $559.00) on shares of BlackRock in a report on Thursday, October 11th. Morgan Stanley lowered their target price on BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. UBS Group lowered their target price on BlackRock from $575.00 to $565.00 and set a “buy” rating for the company in a research note on Monday, October 8th. JPMorgan Chase & Co. lifted their target price on BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Citigroup lowered their target price on BlackRock to $500.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. 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.

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BlackRock 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.

Further Reading: Institutional Investors

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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