Harvest Fund Management Co. Ltd Acquires 138 Shares of BlackRock, Inc. (NYSE:BLK)

Harvest Fund Management Co. Ltd grew its holdings in BlackRock, Inc. (NYSE:BLK) by 1,150.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 150 shares of the asset manager’s stock after purchasing an additional 138 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in BlackRock were worth $142,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BLK. Fairscale Capital LLC bought a new position in BlackRock in the second quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter valued at about $37,000. MFA Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 20 shares in the last quarter. Addison Advisors LLC grew its position in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after buying an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of BlackRock during the 2nd quarter worth approximately $53,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

BLK opened at $1,019.45 on Thursday. 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, Inc. has a 12-month low of $725.86 and a 12-month high of $1,068.34. The firm has a 50 day moving average of $991.35 and a two-hundred day moving average of $885.16. The firm has a market capitalization of $157.89 billion, a PE ratio of 25.16, a P/E/G ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The company 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 firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley boosted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. TD Cowen raised their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

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.