BlackRock, Inc. (NYSE:BLK) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,505 shares of the asset manager’s stock after purchasing an additional 25,755 shares during the quarter. Wellington Management Group LLP owned 0.25% of BlackRock worth $354,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. FSA Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth about $26,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC increased its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays lifted 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 boosted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Down 0.2 %

NYSE:BLK opened at $1,042.87 on Friday. The firm has a market capitalization of $161.52 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. The stock has a 50 day moving average of $1,004.44 and a 200-day moving average of $896.26. BlackRock, Inc. has a 52 week low of $742.22 and a 52 week high of $1,068.34. 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 (NYSE:BLK) last issued its quarterly earnings data 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. Analysts predict that BlackRock, Inc. will post 43.18 EPS for the current 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 is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.96%. BlackRock’s dividend payout ratio is presently 50.35%.

Insider Transactions at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.83, for a total value of $18,824,940.00. Following the completion of the sale, the general counsel now directly owns 8,628 shares in the company, valued at $9,023,421.24. This represents a 67.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,190 shares of company stock worth $113,161,681. Company insiders own 0.90% of the company’s stock.

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.