BB&T Securities LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,663 shares of the asset manager’s stock after buying an additional 1,353 shares during the period. BB&T Securities LLC’s holdings in BlackRock were worth $7,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. boosted its holdings in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock in the second quarter valued at about $104,000. Finally, Harfst & Associates Inc. boosted its holdings in BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares during the last quarter. 83.76% of the stock is owned by institutional investors.

In other BlackRock news, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were 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 have sold 8,875 shares of company stock worth $4,125,566 in the last 90 days. 1.86% of the stock is currently owned by insiders.

A number of brokerages recently commented on BLK. Jefferies Group reissued a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report on Friday, August 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Finally, Barclays began coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $489.08.

Shares of BlackRock, Inc. (NYSE:BLK) opened at $502.08 on Friday. BlackRock, Inc. has a one year low of $365.83 and a one year high of $509.00. The stock has a market capitalization of $80,500.00, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. equities research analysts expect that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, December 1st. BlackRock’s payout ratio is currently 46.82%.

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About BlackRock

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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