Cornerstone Advisors LLC Buys 100 Shares of BlackRock, Inc. (NYSE:BLK)

Cornerstone Advisors LLC lifted its position in BlackRock, Inc. (NYSE:BLK) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,300 shares of the asset manager’s stock after buying an additional 100 shares during the period. Cornerstone Advisors LLC’s holdings in BlackRock were worth $6,931,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BLK. Fairscale Capital LLC acquired a new position in BlackRock during the 2nd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter worth $37,000. MFA Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 20 shares during the last quarter. Addison Advisors LLC lifted its holdings 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 during the period. Finally, Olistico Wealth LLC purchased a new position in BlackRock during the second quarter valued at approximately $53,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

BlackRock stock opened at $1,024.67 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $158.70 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30. The company’s 50 day simple moving average is $978.33 and its 200-day simple moving average is $876.59. BlackRock, Inc. has a 1 year low of $718.72 and a 1 year high of $1,068.34.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 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 company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the firm earned $10.91 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared 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. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. BlackRock’s dividend payout ratio is presently 50.35%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They set a “hold” rating on the stock. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.62.

Insider Activity

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

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.