Nicolet Advisory Services LLC Sells 35 Shares of BlackRock, Inc. (NYSE:BLK)

23 Nov 2024, 12:53 by Danessa Lincoln · The Markets Daily

Nicolet Advisory Services LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,018 shares of the asset manager’s stock after selling 35 shares during the quarter. Nicolet Advisory Services LLC’s holdings in BlackRock were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the period. Legal & General Group Plc raised its position in BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after purchasing an additional 22,311 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the period. International Assets Investment Management LLC grew its position in shares of BlackRock by 104,468.9% in the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after buying an additional 791,874 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of BlackRock by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 685,456 shares of the asset manager’s stock valued at $539,673,000 after buying an additional 17,087 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.8 %

Shares of BLK stock opened at $1,036.46 on Friday. The stock has a market capitalization of $160.53 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.83 and a beta of 1.30. 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 firm’s 50 day moving average is $984.28 and its 200 day moving average is $879.49. BlackRock, Inc. has a 12-month low of $724.54 and a 12-month high of $1,068.34.

BlackRock (NYSE:BLK – Get Free Report) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the company earned $10.91 earnings per share. BlackRock’s revenue was up 14.9% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 43.17 earnings per share for the current year.

BlackRock Announces Dividend

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 given a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.97%. BlackRock’s payout ratio is currently 50.35%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The trade was a 64.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLK shares. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays lifted their price target on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com started coverage on BlackRock in a report on Thursday. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,019.62.

View Our Latest Report on BlackRock

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.