Manchester Capital Management LLC Invests $156,000 in BlackRock, Inc. (BLK)

Manchester Capital Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 350 shares of the asset manager’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Architects Inc raised its holdings in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after acquiring an additional 2 shares during the last quarter. Davis R M Inc. raised its holdings in shares of BlackRock by 0.4% in the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after acquiring an additional 2 shares during the last quarter. National Asset Management Inc. grew its position in shares of BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 3 shares during the period. Proficio Capital Partners LLC grew its position in shares of BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 3 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its position in shares of BlackRock by 0.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 3 shares during the period. 82.13% of the stock is owned by institutional investors.

Shares of BlackRock, Inc. (NYSE:BLK) opened at $479.74 on Monday. BlackRock, Inc. has a 1 year low of $365.83 and a 1 year high of $489.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market capitalization of $76,917.67, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s payout ratio is 46.82%.

In related news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,875 shares of company stock valued at $2,101,166 in the last ninety days. Company insiders own 1.86% of the company’s stock.

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

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BlackRock Profile

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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