Paloma Partners Management Co Sells 636 Shares of BlackRock, Inc. (NYSE:BLK)

Paloma Partners Management Co decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100 shares of the asset manager’s stock after selling 636 shares during the quarter. Paloma Partners Management Co’s holdings in BlackRock were worth $1,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in shares of BlackRock in the third quarter valued at $26,000. Fairscale Capital LLC acquired a new stake in shares of BlackRock in the 2nd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in BlackRock in the 3rd quarter valued at about $37,000. MFA Wealth Advisors LLC boosted its stake in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of 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 last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Down 0.2 %

BlackRock stock opened at $1,020.34 on Tuesday. The firm has a market capitalization of $158.03 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.82 and a beta of 1.30. The firm has a 50 day simple moving average of $994.93 and a 200 day simple moving average of $888.81. BlackRock, Inc. has a 1-year low of $742.22 and a 1-year 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 issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) 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 business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm posted $10.91 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. BlackRock’s dividend payout ratio is presently 50.35%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BLK. TD Cowen upped 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays upped their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com initiated coverage on BlackRock in a research note on Friday. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

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.