Fred Alger Management LLC Has $10.71 Million Stake in BlackRock, Inc. (NYSE:BLK)

Fred Alger Management LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,283 shares of the asset manager’s stock after purchasing an additional 300 shares during the period. Fred Alger Management LLC’s holdings in BlackRock were worth $10,713,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BLK. Fairscale Capital LLC acquired a new position in shares of BlackRock in the second quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 20 shares during the last quarter. Addison Advisors LLC grew its stake in shares of BlackRock by 81.5% in the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after buying an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in BlackRock in the second quarter worth approximately $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen boosted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays increased their target price 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. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com began coverage on BlackRock in a report on Friday. They set a “hold” rating on the stock. Finally, Evercore ISI upped their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Up 0.3 %

BLK opened at $1,022.80 on Friday. The business has a 50 day moving average of $994.93 and a 200-day moving average of $887.71. The stock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.82 and a beta of 1.30. 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 1-year low of $742.22 and a 1-year high of $1,068.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business posted $10.91 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be paid 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 yield of 1.99%. BlackRock’s dividend payout ratio is 50.35%.

BlackRock Company 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.