BlackRock $BLK Shares Bought by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC boosted its position in shares of BlackRock (NYSE:BLK) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,405 shares of the asset manager’s stock after acquiring an additional 752 shares during the period. Trifecta Capital Advisors LLC’s holdings in BlackRock were worth $5,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after buying an additional 555,098 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Unisphere Establishment lifted its position in shares of BlackRock by 29.2% during the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock worth $794,570,000 after buying an additional 189,500 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of BlackRock by 58.8% during the 1st quarter. Alliancebernstein L.P. now owns 381,447 shares of the asset manager’s stock worth $361,032,000 after buying an additional 141,258 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BLK shares. Evercore ISI boosted their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Jefferies Financial Group boosted their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. UBS Group reiterated a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,254.47.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction 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 transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $1,163.72 on Thursday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13. The stock has a market cap of $180.21 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.45. The firm’s fifty day simple moving average is $1,132.82 and its 200-day simple moving average is $1,032.16.

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

BlackRock Announces Dividend

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 dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s dividend payout ratio is 50.39%.

About BlackRock

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.