First Commonwealth Financial Corp PA Grows Position in BlackRock, Inc. (NYSE:BLK)

First Commonwealth Financial Corp PA grew its stake in BlackRock, Inc. (NYSE:BLK) by 1.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,080 shares of the asset manager’s stock after acquiring an additional 14 shares during the period. First Commonwealth Financial Corp PA’s holdings in BlackRock were worth $1,025,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fairscale Capital LLC acquired a new position in BlackRock in the 2nd quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC grew its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the period. Addison Advisors LLC increased its stake in shares of BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of BlackRock during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BLK shares. Morgan Stanley boosted their target price on shares of BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. 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 report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 64.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.4 %

BLK traded up $4.24 on Wednesday, reaching $1,030.72. The company’s stock had a trading volume of 17,264 shares, compared to its average volume of 577,682. BlackRock, Inc. has a 1 year low of $725.86 and a 1 year high of $1,068.34. The business’s 50 day moving average is $989.43 and its 200 day moving average is $884.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market cap of $159.64 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $10.91 earnings per share. As a group, research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

BlackRock Company 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.