TD Asset Management Inc Sells 2,885 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Markets Daily

TD Asset Management Inc cut its holdings in BlackRock, Inc. (NYSE:BLK – Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,324 shares of the asset manager’s stock after selling 2,885 shares during the period. TD Asset Management Inc’s holdings in BlackRock were worth $38,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in BLK. Mendel Capital Management LLC raised its position in BlackRock by 1.4% in the second quarter. Mendel Capital Management LLC now owns 1,013 shares of the asset manager’s stock worth $700,000 after acquiring an additional 14 shares during the period. Key Financial Inc lifted its position in shares of BlackRock by 2.7% during the 2nd quarter. Key Financial Inc now owns 540 shares of the asset manager’s stock valued at $373,000 after buying an additional 14 shares in the last quarter. Keystone Financial Planning Inc. grew its stake in shares of BlackRock by 4.2% during the 2nd quarter. Keystone Financial Planning Inc. now owns 369 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 15 shares during the period. Field & Main Bank raised its stake in BlackRock by 1.8% during the 2nd quarter. Field & Main Bank now owns 842 shares of the asset manager’s stock worth $582,000 after acquiring an additional 15 shares during the period. Finally, Rock Creek Group LP boosted its position in shares of BlackRock by 12.8% in the second quarter. Rock Creek Group LP now owns 132 shares of the asset manager’s stock worth $91,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

BlackRock Trading Up 0.0 %

NYSE BLK opened at $792.61 on Friday. The company has a market capitalization of $117.91 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.20 and a beta of 1.36. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $819.00. The firm’s fifty day moving average price is $752.09 and its 200 day moving average price is $704.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.72 and a quick ratio of 3.72.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Friday, October 13th. The asset manager reported $10.91 EPS for the quarter, beating the consensus estimate of $8.34 by $2.57. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $9.55 EPS. On average, sell-side analysts expect that BlackRock, Inc. will post 36.92 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Thursday, December 7th were given a dividend of $5.00 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.52%. BlackRock’s payout ratio is 56.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLK. JPMorgan Chase & Co. lowered BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price target for the company. in a research note on Friday, December 15th. TD Cowen started coverage on shares of BlackRock in a research note on Thursday, January 4th. They issued a “market perform” rating and a $819.00 target price on the stock. UBS Group boosted their target price on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $814.00 to $800.00 and set a “buy” rating on the stock in a research note on Wednesday, October 11th. Finally, BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price for the company in a research note on Tuesday, December 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $777.80.

Get Our Latest Stock Analysis on BLK

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 15,385 shares of BlackRock stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $652.03, for a total transaction of $10,031,481.55. Following the completion of the transaction, the chief executive officer now owns 435,260 shares in the company, valued at $283,802,577.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.06% of the stock is owned by corporate insiders.

BlackRock Company Profile

(Free Report)

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.

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