Investment Centers of America Inc. raised its stake in BlackRock, Inc. (NYSE:BLK) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,237 shares of the asset manager’s stock after buying an additional 125 shares during the quarter. Investment Centers of America Inc.’s holdings in BlackRock were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tiedemann Wealth Management LLC increased its stake in BlackRock by 38.6% during the third quarter. Tiedemann Wealth Management LLC now owns 4,393 shares of the asset manager’s stock worth $1,953,000 after purchasing an additional 1,223 shares during the period. Schwab Charles Investment Management Inc. increased its stake in BlackRock by 4.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock worth $186,973,000 after purchasing an additional 17,491 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in BlackRock by 0.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 243,869 shares of the asset manager’s stock worth $109,031,000 after purchasing an additional 1,914 shares during the period. Commonwealth Bank of Australia increased its stake in BlackRock by 9.9% during the third quarter. Commonwealth Bank of Australia now owns 16,459 shares of the asset manager’s stock worth $7,351,000 after purchasing an additional 1,482 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. increased its stake in BlackRock by 1,119.2% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after purchasing an additional 291 shares during the period. 83.76% of the stock is currently owned by institutional investors.

BlackRock, Inc. (NYSE:BLK) traded up $0.37 during mid-day trading on Friday, hitting $501.19. 1,071,200 shares of the company were exchanged, compared to its average volume of 527,500. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a 12-month low of $365.83 and a 12-month high of $509.00. The stock has a market capitalization of $80,310.00, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.70 and a beta of 1.79.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm earned $5.14 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. sell-side analysts forecast that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.00%. BlackRock’s payout ratio is 46.82%.

A number of brokerages have issued reports on BLK. Wells Fargo & Company reiterated a “market perform” rating and set a $475.00 price target (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. J P Morgan Chase & Co boosted their price target on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Jefferies Group restated a “hold” rating and set a $465.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $489.08.

In related news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold 8,875 shares of company stock worth $4,125,566 over the last 90 days. Insiders own 1.86% of the company’s stock.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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