The Manufacturers Life Insurance Company Has $81.29 Million Holdings in BlackRock, Inc. (NYSE:BLK)

The Manufacturers Life Insurance Company cut its position in BlackRock, Inc. (NYSE:BLK) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,610 shares of the asset manager’s stock after selling 1,175 shares during the period. The Manufacturers Life Insurance Company’s holdings in BlackRock were worth $81,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC bought a new position in shares of BlackRock in the second quarter worth about $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth about $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. 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 worth $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of BlackRock in the third quarter worth about $54,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLK shares. The Goldman Sachs Group boosted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI boosted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com initiated coverage on shares of BlackRock in a research note on Thursday, November 21st. They set a “hold” rating for the company. Finally, TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.7 %

Shares of NYSE:BLK opened at $1,019.45 on Thursday. BlackRock, Inc. has a 52 week low of $725.86 and a 52 week high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $157.89 billion, a PE ratio of 25.16, a PEG ratio of 1.84 and a beta of 1.30. The company has a 50 day moving average price of $991.35 and a two-hundred day moving average price of $885.16.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.35%.

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.