Morse Asset Management Inc Purchases New Holdings in BlackRock, Inc. (NYSE:BLK)

Morse Asset Management Inc purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 69 shares of the asset manager’s stock, valued at approximately $66,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new stake in shares of BlackRock during the third quarter valued at approximately $32,904,000. Raymond James Trust N.A. grew its holdings in BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after purchasing an additional 614 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in BlackRock by 20.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after purchasing an additional 565 shares during the period. Advisors Asset Management Inc. grew its holdings in BlackRock by 6.7% during the third quarter. Advisors Asset Management Inc. now owns 13,862 shares of the asset manager’s stock valued at $13,162,000 after purchasing an additional 870 shares during the period. Finally, Aptus Capital Advisors LLC grew its holdings in BlackRock by 20.8% during the third quarter. Aptus Capital Advisors LLC now owns 21,333 shares of the asset manager’s stock valued at $20,256,000 after purchasing an additional 3,675 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on BLK shares. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays increased their price objective on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their price target on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley raised their price target on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Down 0.4 %

NYSE BLK opened at $1,034.84 on Thursday. The stock’s 50-day simple moving average is $1,000.48 and its two-hundred day simple moving average is $892.90. BlackRock, Inc. has a twelve month low of $742.22 and a twelve month high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $160.28 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for 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 company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.91 earnings per share. Research analysts forecast that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th will be issued a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 1.97%. BlackRock’s dividend 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.