Prana Capital Management LP Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Prana Capital Management LP increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,807 shares of the asset manager’s stock after buying an additional 1,651 shares during the quarter. BlackRock accounts for about 4.2% of Prana Capital Management LP’s portfolio, making the stock its 7th biggest holding. Prana Capital Management LP owned about 0.07% of BlackRock worth $91,919,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in shares of BlackRock in the third quarter worth $26,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC increased its position in shares of BlackRock by 100.0% in the third 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 grew its stake in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLK. Evercore ISI raised their target price 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. Wells Fargo & Company upped their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com started coverage on shares of BlackRock in a report on Friday, November 29th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Stock Performance

NYSE:BLK opened at $1,038.53 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $742.22 and a fifty-two week high of $1,068.34. The company has a market cap of $160.85 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.82 and a beta of 1.28. The stock has a fifty day moving average price of $998.52 and a 200-day moving average price of $891.90.

BlackRock (NYSE:BLK) last announced 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. The firm had revenue of $5.20 billion for 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 business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $10.91 earnings per share. As a group, equities analysts anticipate that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Dividend Announcement

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