252 Shares in BlackRock $BLK Bought by Balefire LLC

Key Points

• Balefire LLC has made a new investment in BlackRock, acquiring 252 shares valued at approximately $264,000 during the second quarter.
• BlackRock reported a 12.9% increase in year-over-year quarterly revenue, with earnings per share (EPS) of $12.05, surpassing estimates by $1.64.
• The firm is set to pay a quarterly dividend of $5.21 per share, with a dividend yield of 1.8%, highlighting its stable financial position and commitment to returning value to shareholders.

Balefire LLC purchased a new stake in BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 252 shares of the asset manager's stock, valued at approximately $264,000.

Several other hedge funds also recently added to or reduced their stakes in BLK. Fairway Wealth LLC boosted its stake in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC boosted its stake in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the 4th quarter worth about $30,000. Finally, Cheviot Value Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth about $30,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated 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 transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% 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. Company insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Evercore ISI increased their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, Morgan Stanley cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,154.07.

BlackRock Stock Up 0.5%

BLK stock traded up $5.63 during midday trading on Friday, hitting $1,142.76. The company's stock had a trading volume of 1,504,904 shares, compared to its average volume of 445,605. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The firm has a market capitalization of $176.96 billion, a P/E ratio of 27.63, a PEG ratio of 2.18 and a beta of 1.45. The firm has a 50-day simple moving average of $1,119.82 and a 200-day simple moving average of $1,012.87.

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

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid 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 1.8%. BlackRock's payout ratio is currently 50.39%.

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.