Glenmede Trust Co. NA Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Glenmede Trust Co. NA lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,337 shares of the asset manager’s stock after selling 434 shares during the period. Glenmede Trust Co. NA owned 0.05% of BlackRock worth $75,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC grew its holdings 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 purchasing an additional 20 shares during the last quarter. 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 purchasing an additional 22 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of BlackRock in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted 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. Barclays lifted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, StockNews.com started coverage on shares of BlackRock in a research note on Thursday, November 21st. They set a “hold” rating for the company. Three 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, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Performance

Shares of BLK stock opened at $1,026.24 on Wednesday. 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 12-month low of $724.54 and a 12-month high of $1,068.34. The company has a market cap of $158.94 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30. The stock has a 50 day simple moving average of $989.43 and a 200-day simple moving average of $884.21.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the company earned $10.91 earnings per share. BlackRock’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This trade represents a 64.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.