Benjamin Edwards Inc. Has $35.71 Million Stake in BlackRock, Inc. (NYSE:BLK)

Benjamin Edwards Inc. lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1,431.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 37,585 shares of the asset manager’s stock after acquiring an additional 35,131 shares during the period. Benjamin Edwards Inc.’s holdings in BlackRock were worth $35,709,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in shares of BlackRock by 9.8% during the 2nd quarter. Mather Group LLC. now owns 1,469 shares of the asset manager’s stock valued at $1,225,000 after acquiring an additional 131 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of BlackRock during the second quarter valued at about $53,000. Kingswood Wealth Advisors LLC increased its stake in shares of BlackRock by 14.2% in the second quarter. Kingswood Wealth Advisors LLC now owns 795 shares of the asset manager’s stock valued at $626,000 after buying an additional 99 shares during the period. Park Avenue Securities LLC grew its holdings in BlackRock by 7.2% during the 2nd quarter. Park Avenue Securities LLC now owns 9,575 shares of the asset manager’s stock worth $7,539,000 after acquiring an additional 647 shares during the last quarter. Finally, Somerset Trust Co increased its position in BlackRock by 1.4% in the 2nd quarter. Somerset Trust Co now owns 4,255 shares of the asset manager’s stock valued at $3,350,000 after acquiring an additional 58 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLK. Morgan Stanley boosted their price objective 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. Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays lifted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

NYSE BLK opened at $1,022.80 on Monday. The company has a market cap of $158.41 billion, a P/E ratio of 25.24, a PEG ratio of 1.82 and a beta of 1.30. The company has a fifty day simple moving average of $994.93 and a 200 day simple moving average of $888.81. BlackRock, Inc. has a 12-month low of $742.22 and a 12-month high of $1,068.34. 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 (NYSE:BLK) last announced 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. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.91 EPS. Sell-side analysts predict that BlackRock, Inc. will post 43.18 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. Stockholders of record on Thursday, December 5th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio is presently 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.