Raymond James Trust N.A. Has $25.72 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Raymond James Trust N.A. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,092 shares of the asset manager’s stock after acquiring an additional 614 shares during the quarter. Raymond James Trust N.A.’s holdings in BlackRock were worth $25,724,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BLK. Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares in the last quarter. Legal & General Group Plc lifted its stake in BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC lifted its position in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in BlackRock by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock worth $539,673,000 after purchasing an additional 17,087 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLK. The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, TD Cowen upped their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

BlackRock Stock Up 0.7 %

BLK stock opened at $1,032.30 on Friday. The company has a market cap of $159.88 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.83 and a beta of 1.30. 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 business’s 50-day moving average is $981.26 and its two-hundred day moving average is $877.67. BlackRock, Inc. has a fifty-two week low of $724.54 and a fifty-two week high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm 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 business earned $10.91 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.98%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

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.