300 Shares in BlackRock (NYSE:BLK) Bought by Credit Capital Investments LLC

Key Points

• Credit Capital Investments LLC acquired 300 shares of BlackRock, valued at approximately $284,000, making it the company's 19th largest holding.
• Bank of America raised its price target on BlackRock shares from $1,214.00 to $1,224.00, while analysts maintain an average rating of "Moderate Buy" with a consensus price target of $1,151.21.
• BlackRock announced a quarterly dividend of $5.21 per share, representing an annual yield of 1.9% and a payout ratio of 50.39%.

Credit Capital Investments LLC acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 300 shares of the asset manager's stock, valued at approximately $284,000. BlackRock accounts for about 0.5% of Credit Capital Investments LLC's holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Empire Life Investments Inc. purchased a new position in BlackRock during the first quarter worth $1,540,000. Allianz SE boosted its stake in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after buying an additional 277 shares during the period. Blair William & Co. IL boosted its stake in BlackRock by 25.1% during the first quarter. Blair William & Co. IL now owns 65,808 shares of the asset manager's stock worth $62,286,000 after buying an additional 13,185 shares during the period. Argent Trust Co boosted its stake in BlackRock by 2.8% during the first quarter. Argent Trust Co now owns 15,308 shares of the asset manager's stock worth $14,489,000 after buying an additional 415 shares during the period. Finally, Delta Financial Group Inc. boosted its stake in BlackRock by 52.8% during the first quarter. Delta Financial Group Inc. now owns 512 shares of the asset manager's stock worth $493,000 after buying an additional 177 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on BLK shares. Bank of America lifted their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. TD Cowen lowered their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Argus reissued a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group reissued a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Stock Down 1.3%

NYSE:BLK opened at $1,091.29 on Monday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,130.66. The company has a 50-day moving average of $1,040.67 and a 200 day moving average of $981.35. The firm has a market cap of $169.07 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data 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 15.83%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $10.36 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock's payout ratio is currently 50.39%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

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.

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