Dearborn Partners LLC Trims Position in BlackRock, Inc. (NYSE:BLK)

Dearborn Partners LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,192 shares of the asset manager’s stock after selling 1,954 shares during the period. BlackRock accounts for 1.5% of Dearborn Partners LLC’s holdings, making the stock its 25th biggest holding. Dearborn Partners LLC’s holdings in BlackRock were worth $38,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLK shares. Barclays increased 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Performance

NYSE BLK opened at $1,047.01 on Friday. The stock has a fifty day simple moving average of $962.02 and a 200-day simple moving average of $866.74. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market cap of $155.09 billion, a PE ratio of 25.84, a P/E/G ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $697.70 and a twelve month high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. The company 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%. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $10.91 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 43.17 earnings per share for the current year.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the business’s 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 sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

About BlackRock

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.