Truvestments Capital LLC Purchases Shares of 111 BlackRock, Inc. (NYSE:BLK)

Truvestments Capital LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 111 shares of the asset manager’s stock, valued at approximately $105,000.

A number of other institutional investors also recently made changes to their positions in BLK. Fisher Asset Management LLC boosted its position in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares during the last quarter. Legal & General Group Plc boosted its holdings in BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares during the period. Pathway Financial Advisers LLC grew its position in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BLK shares. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective 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. The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. 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 note on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Down 0.5 %

NYSE BLK opened at $1,026.24 on Wednesday. The stock’s 50 day moving average is $989.43 and its 200 day moving average is $884.21. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $158.94 billion, a PE ratio of 25.33, a P/E/G ratio of 1.85 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month 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 for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $10.91 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio is 50.35%.

Insider Activity

In other 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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.