Independent Advisor Alliance Has $2.58 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Independent Advisor Alliance decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,719 shares of the asset manager’s stock after selling 905 shares during the quarter. Independent Advisor Alliance’s holdings in BlackRock were worth $2,581,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BLK. Fairscale Capital LLC acquired a new position in BlackRock during the 2nd quarter worth $31,000. Reston Wealth Management LLC acquired a new position in BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC lifted its holdings in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares in the last quarter. Addison Advisors LLC lifted its holdings in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BLK shares. StockNews.com started coverage on shares of BlackRock in a research report on Thursday, November 21st. They set a “hold” rating for the company. Barclays upped their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price 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. Finally, Evercore ISI upped their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Price Performance

BLK stock opened at $1,031.49 on Tuesday. The stock has a 50-day moving average price of $987.00 and a two-hundred day moving average price of $882.60. The stock has a market cap of $159.76 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 1 year low of $724.54 and a 1 year high of $1,068.34.

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

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.98%. BlackRock’s dividend payout ratio is 50.35%.

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.