BlackRock, Inc. (NYSE:BLK) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,664 shares of the asset manager’s stock after selling 466 shares during the quarter. Hantz Financial Services Inc.’s holdings in BlackRock were worth $10,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BLK. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC increased its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. Addison Advisors LLC increased its position in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of BlackRock during the second quarter worth about $53,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BLK. Barclays lifted their target price on BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley boosted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,019.45 on Friday. 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 50 day simple moving average of $993.05 and a 200-day simple moving average of $886.09. The company has a market cap of $157.89 billion, a PE ratio of 25.16, a P/E/G ratio of 1.84 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $725.86 and a 12-month high of $1,068.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.52% and a net margin of 31.37%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post 43.17 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

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.