BlackRock $BLK Shares Acquired by Barrett & Company Inc.

Barrett & Company Inc. lifted its stake in shares of BlackRock (NYSE:BLK) by 1,500.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64 shares of the asset manager’s stock after purchasing an additional 60 shares during the period. Barrett & Company Inc.’s holdings in BlackRock were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC increased its stake in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares in the last quarter. Garde Capital Inc. increased its stake in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after purchasing an additional 18 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the first quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock during the first quarter worth about $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. Morgan Stanley lowered their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. UBS Group restated a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group boosted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,213.67.

BlackRock Price Performance

BlackRock stock opened at $1,160.75 on Friday. The company’s 50 day simple moving average is $1,129.67 and its 200-day simple moving average is $1,027.68. The company has a market capitalization of $179.74 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,183.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $10.36 EPS. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s payout ratio is 50.39%.

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.