Logan Capital Management Inc. Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

Logan Capital Management Inc. lowered its position in BlackRock, Inc. (NYSE:BLK) by 1.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,862 shares of the asset manager’s stock after selling 27 shares during the period. Logan Capital Management Inc.’s holdings in BlackRock were worth $1,768,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in BlackRock in the third quarter worth about $26,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in BlackRock during the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC grew its position in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Addison Advisors LLC increased its stake in 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 purchasing an additional 22 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective 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, JPMorgan Chase & Co. increased their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,039.17.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock worth $113,161,681 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Down 0.2 %

NYSE BLK opened at $1,056.60 on Friday. The firm has a market cap of $163.65 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. 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 company has a 50 day moving average price of $1,015.33 and a 200 day moving average price of $904.88.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 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 last year, the firm earned $10.91 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a dividend of $5.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.93%. BlackRock’s dividend payout ratio (DPR) is currently 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.