Rockefeller Capital Management L.P. Sells 9,946 Shares of BlackRock, Inc. (NYSE:BLK)

Rockefeller Capital Management L.P. decreased its position in BlackRock, Inc. (NYSE:BLK) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 149,646 shares of the asset manager’s stock after selling 9,946 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in BlackRock were worth $142,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its position in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in shares of BlackRock by 3.5% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after buying an additional 11 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in BlackRock by 0.7% in the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock valued at $1,447,000 after buying an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BLK shares. TD Cowen lifted 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. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Down 0.7 %

Shares of NYSE:BLK opened at $1,019.45 on Friday. The business’s 50 day moving average is $993.05 and its 200 day moving average is $886.09. BlackRock, Inc. has a 12-month low of $725.86 and a 12-month high of $1,068.34. The stock has a market cap of $157.89 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.84 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $10.91 earnings per share. On average, sell-side analysts forecast that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is presently 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.