SevenBridge Financial Group LLC Grows Position in BlackRock, Inc. (NYSE:BLK)

SevenBridge Financial Group LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 7.8% during the third quarter, HoldingsChannel.com reports. The firm owned 1,312 shares of the asset manager’s stock after acquiring an additional 95 shares during the period. SevenBridge Financial Group LLC’s holdings in BlackRock were worth $1,383,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. boosted its holdings in BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after acquiring an additional 614 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares during the period. Cetera Investment Advisers increased its position in BlackRock by 219.5% during the 1st quarter. Cetera Investment Advisers now owns 44,065 shares of the asset manager’s stock worth $36,737,000 after purchasing an additional 30,274 shares in the last quarter. GAMMA Investing LLC raised its holdings in BlackRock by 62.8% in the second quarter. GAMMA Investing LLC now owns 2,291 shares of the asset manager’s stock valued at $1,804,000 after buying an additional 884 shares during the period. Finally, Aptus Capital Advisors LLC lifted its position in BlackRock by 20.8% during the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock valued at $20,256,000 after buying an additional 3,675 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of NYSE:BLK opened at $1,036.46 on Friday. The company has a 50 day moving average of $984.28 and a 200-day moving average of $880.18. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a market cap of $160.53 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $724.54 and a twelve month high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company posted $10.91 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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 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 1.97%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BLK. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, StockNews.com assumed coverage on BlackRock in a report on Thursday. They issued 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. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on 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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

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.