BlackRock, Inc. (NYSE:BLK) Shares Sold by Associated Banc Corp

Associated Banc Corp reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.0% in the 3rd quarter, Holdings Channel reports. The fund owned 30,212 shares of the asset manager’s stock after selling 601 shares during the period. Associated Banc Corp’s holdings in BlackRock were worth $28,687,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC boosted its holdings in shares of 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 purchasing an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in BlackRock in the 3rd quarter valued at about $115,377,000. Sarasin & Partners LLP grew its stake in BlackRock by 174.8% during the 2nd quarter. Sarasin & Partners LLP now owns 184,291 shares of the asset manager’s stock valued at $145,096,000 after purchasing an additional 117,218 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of BlackRock in the first quarter worth $86,282,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com began coverage on shares of BlackRock in a research report on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Evercore ISI upped their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Stock Performance

BLK traded up $6.71 on Monday, hitting $1,043.17. The company had a trading volume of 28,149 shares, compared to its average volume of 572,880. BlackRock, Inc. has a 1-year low of $724.54 and a 1-year high of $1,068.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company’s fifty day moving average price is $984.28 and its 200 day moving average price is $880.90. The stock has a market cap of $161.57 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30.

BlackRock (NYSE:BLK) last released 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 during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.91 EPS. Equities analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.96%. BlackRock’s dividend payout ratio is 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.