Invst LLC Has $1.86 Million Position in BlackRock, Inc. (NYSE:BLK)

Invst LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,383 shares of the asset manager’s stock after buying an additional 154 shares during the quarter. Invst LLC’s holdings in BlackRock were worth $1,864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BLK. Carolinas Wealth Consulting LLC grew its position in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after purchasing an additional 40 shares in the last quarter. Axxcess Wealth Management LLC grew its position in BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in BlackRock by 97.1% in the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after buying an additional 56,357 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of BlackRock by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after buying an additional 14,477 shares in the last quarter. Finally, Oak Harvest Investment Services bought a new stake in shares of BlackRock during the 1st quarter worth approximately $6,735,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLK shares. UBS Group lowered their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen decreased their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Evercore ISI lifted their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company initiated coverage on BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by insiders.

BlackRock Stock Up 0.0 %

BlackRock stock opened at $945.21 on Monday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $952.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm’s 50-day simple moving average is $879.35 and its 200 day simple moving average is $821.74. The stock has a market cap of $140.46 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.28 EPS. Research analysts predict that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.16%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

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.