Edgestream Partners L.P. Has $971,000 Stock Position in BlackRock $BLK

Edgestream Partners L.P. increased its stake in shares of BlackRock (NYSE:BLK) by 309.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 925 shares of the asset manager’s stock after purchasing an additional 699 shares during the period. Edgestream Partners L.P.’s holdings in BlackRock were worth $971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC raised its position in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. grew its holdings in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Traub Capital Management LLC acquired a new position in BlackRock during the second quarter valued at approximately $28,000. Whipplewood Advisors LLC increased its stake in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares in the last quarter. Finally, Creekmur Asset Management LLC raised its holdings in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after purchasing an additional 14 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, CFO Martin Small sold 1,258 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the sale, the chief financial officer directly owned 6,209 shares of the company’s stock, valued at $6,478,346.42. The trade was a 16.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,071.87 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The firm has a market cap of $166.30 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.47. The stock’s 50-day moving average is $1,100.03 and its 200-day moving average is $1,084.42. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the previous year, the business posted $11.46 earnings per share. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio (DPR) is 53.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating for the company in a report on Friday, November 14th. Bank of America boosted their target price on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. TD Cowen increased their price target on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets lifted their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley boosted their price objective on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,302.59.

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.