BlackRock $BLK Stock Position Lifted by Rockland Trust Co.

Key Points

• Rockland Trust increased its BlackRock stake by 3.3% in the third quarter, bringing its holdings to 33,758 shares valued at approximately $35.7 million. Institutional investors collectively own 80.69% of BlackRock.
• BlackRock reported quarterly earnings of $13.91 per share, surpassing estimates of $12.69, while revenue rose 30.6% year over year to $7.08 billion.
• The company paid a quarterly dividend of $5.73 per share, or $22.92 annualized, yielding about 2.2%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,304.35.

Rockland Trust Co. raised its stake in BlackRock (NYSE:BLK - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,758 shares of the asset manager's stock after buying an additional 1,063 shares during the quarter. BlackRock accounts for about 1.4% of Rockland Trust Co.'s holdings, making the stock its 21st biggest position. Rockland Trust Co.'s holdings in BlackRock were worth $35,726,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Santa Clara Valley Transportation Authority bought a new stake in BlackRock in the second quarter worth approximately $129,138,253,000. BlackRock Inc. acquired a new stake in shares of BlackRock in the 2nd quarter valued at $9,747,857,000. State Street Corp boosted its holdings in BlackRock by 0.5% in the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager's stock worth $6,705,193,000 after purchasing an additional 33,752 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in BlackRock by 5,190.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager's stock worth $5,876,618,000 after purchasing an additional 5,386,640 shares in the last quarter. Finally, Temasek Holdings Private Ltd increased its position in BlackRock by 4.7% during the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager's stock worth $5,126,387,000 after buying an additional 237,667 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

BLK stock traded up $4.52 on Monday, reaching $1,064.15. 177,973 shares of the company were exchanged, compared to its average volume of 743,190. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $164.80 billion, a PE ratio of 25.43, a PEG ratio of 1.17 and a beta of 1.41. The stock's fifty day moving average price is $1,111.19 and its 200 day moving average price is $1,055.22. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The firm's revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the company earned $12.05 earnings per share. On average, research analysts anticipate that BlackRock will post 55.9 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were paid a dividend of $5.73 per share. This represents a $22.92 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 8th. BlackRock's dividend payout ratio is currently 54.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BLK shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $1,258.00 price target on shares of BlackRock in a research report on Thursday, July 16th. UBS Group raised their price objective on BlackRock from $1,270.00 to $1,320.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Morgan Stanley reduced their target price on BlackRock from $1,488.00 to $1,479.00 and set an "overweight" rating for the company in a report on Friday, September 25th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,389.00 price target on shares of BlackRock in a report on Thursday, July 16th. Finally, Weiss Ratings cut shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,304.35.

About BlackRock

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company's principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

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