Cinctive Capital Management LP Invests $5.64 Million in BlackRock, Inc. (NYSE:BLK)

Cinctive Capital Management LP bought a new stake in BlackRock, Inc. (NYSE:BLK) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,939 shares of the asset manager’s stock, valued at approximately $5,639,000.

Other large investors have also modified their holdings of the company. FMR LLC lifted its position in BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after buying an additional 46,728 shares in the last quarter. Legal & General Group Plc grew its holdings in BlackRock by 1.9% during the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BLK. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their target price 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. JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Barclays raised their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,019.62.

BlackRock Trading Up 0.3 %

Shares of BLK stock opened at $1,022.80 on Monday. BlackRock, Inc. has a twelve month low of $742.22 and a twelve month high of $1,068.34. The company has a market capitalization of $158.41 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.82 and a beta of 1.30. The firm has a 50-day moving average price of $994.93 and a 200 day moving average price of $888.81. 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 posted its quarterly earnings data 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 business had revenue of $5.20 billion during 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 company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.91 earnings per share. Research analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal 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 issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

BlackRock 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.