Interval Partners LP Buys Shares of 10,439 BlackRock, Inc. (NYSE:BLK)

Interval Partners LP acquired a new stake in shares of BlackRock, Inc. (NYSE:BLKGet Rating) during the first quarter, according to its most recent filing with the SEC. The fund acquired 10,439 shares of the asset manager’s stock, valued at approximately $7,977,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Western Pacific Wealth Management LP bought a new stake in shares of BlackRock during the 4th quarter valued at $27,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at $29,000. Confluence Wealth Services Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at $35,000. McIlrath & Eck LLC raised its stake in shares of BlackRock by 67.9% during the 1st quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 19 shares during the period. Finally, Disciplined Investments LLC increased its stake in BlackRock by 45.5% in the 1st quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock worth $37,000 after acquiring an additional 15 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In related news, President Robert Kapito sold 37,588 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the completion of the sale, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, CEO Laurence Fink sold 44,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the transaction, the chief executive officer now owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The disclosure for this sale can be found here. Insiders sold 83,448 shares of company stock worth $55,259,953 in the last ninety days. 1.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLK shares. The Goldman Sachs Group decreased their target price on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. UBS Group decreased their target price on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. decreased their target price on BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Finally, StockNews.com upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $804.46.

BlackRock Trading Up 0.5 %

Shares of BLK stock opened at $695.46 on Friday. The stock has a market capitalization of $104.85 billion, a PE ratio of 18.34, a P/E/G ratio of 3.53 and a beta of 1.23. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16. The business has a 50-day moving average of $667.73 and a 200 day moving average of $671.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64.

BlackRock (NYSE:BLKGet Rating) last issued its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.03 earnings per share. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 33.92 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be issued a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This is a boost from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio is currently 51.46%.

About BlackRock

(Get Rating)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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