Intech Investment Management LLC Has $6.23 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Intech Investment Management LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,558 shares of the asset manager’s stock after selling 1,470 shares during the quarter. Intech Investment Management LLC’s holdings in BlackRock were worth $6,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BLK. Ameriprise Financial Inc. raised its position in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares in the last quarter. Legal & General Group Plc increased its stake 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 worth $942,640,000 after acquiring an additional 22,311 shares during the period. Pathway Financial Advisers LLC raised its holdings in BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of BlackRock by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock worth $539,673,000 after purchasing an additional 17,087 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated 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 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BLK. The Goldman Sachs Group increased their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com started coverage on BlackRock in a report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Up 0.8 %

Shares of NYSE BLK opened at $1,036.46 on Friday. The stock has a market cap of $160.53 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. The firm has a 50 day moving average price of $984.28 and a two-hundred day moving average price of $879.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 52-week low of $724.54 and a 52-week high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results 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 return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the company earned $10.91 EPS. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Dividend Announcement

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

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.