380 Shares in BlackRock $BLK Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in BlackRock, purchasing 380 shares valued at approximately $360,000 during the first quarter.
• BlackRock's CEO Laurence Fink and Director J. Richard Kushel both sold significant portions of their shares recently, reducing their ownership by 4.57% and 21.83%, respectively.
• The company announced a quarterly dividend of $5.21 per share set to be paid on September 23rd, representing an annualized payout of $20.84 and a yield of 1.9%.

Dynamic Technology Lab Private Ltd acquired a new position in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 380 shares of the asset manager's stock, valued at approximately $360,000.

Other large investors also recently modified their holdings of the company. Securian Asset Management Inc. bought a new stake in shares of BlackRock in the first quarter worth $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the first quarter valued at about $2,018,000. Allianz SE grew its holdings in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock valued at $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System bought a new stake in BlackRock during the first quarter valued at about $40,868,000. Finally, Polar Capital Holdings Plc bought a new stake in BlackRock during the fourth quarter valued at about $15,307,000. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

NYSE:BLK opened at $1,124.34 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $174.10 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The business's 50-day moving average is $1,115.88 and its 200 day moving average is $1,007.01.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $10.36 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. 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 dividend payout ratio is 50.39%.

Analyst Ratings Changes

BLK has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lowered their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

BlackRock 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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