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BlackRock $BLK Position Increased by Callan Family Office LLC

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Key Points

  • Callan Family Office LLC has increased its stake in BlackRock by 78.7%, owning a total of 7,744 shares valued at approximately $8.13 million by the end of the last quarter.
  • BlackRock reported $12.05 earnings per share for the last quarter, exceeding the consensus estimate by $1.64, with a year-over-year revenue increase of 12.9%.
  • The company recently declared a $5.21 quarterly dividend, reflecting an annualized dividend yield of 1.8% and a payout ratio of 50.39%.
  • MarketBeat previews top five stocks to own in November.

Callan Family Office LLC boosted its stake in BlackRock (NYSE:BLK - Free Report) by 78.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,744 shares of the asset manager's stock after buying an additional 3,410 shares during the period. Callan Family Office LLC's holdings in BlackRock were worth $8,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC boosted its holdings in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after buying an additional 17 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of BlackRock in the first quarter worth approximately $674,000. GAMMA Investing LLC lifted its position in shares of BlackRock by 10.6% in the first quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager's stock worth $3,500,000 after purchasing an additional 355 shares in the last quarter. Finally, CX Institutional lifted its position in shares of BlackRock by 6.6% in the first quarter. CX Institutional now owns 471 shares of the asset manager's stock worth $446,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

BlackRock stock opened at $1,165.64 on Friday. The stock has a market capitalization of $180.50 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.21 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a 50-day simple moving average of $1,134.03 and a 200 day simple moving average of $1,033.55.

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, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $10.36 EPS. On average, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

Insider Buying and Selling

In related news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value 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. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLK. UBS Group reaffirmed a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a report on Thursday, October 2nd. Barclays raised their price objective on shares of BlackRock from $1,210.00 to $1,310.00 and gave the stock an "overweight" rating in a research note on Wednesday. BMO Capital Markets initiated coverage on shares of BlackRock in a research note on Friday, October 3rd. They issued an "outperform" rating and a $1,280.00 price objective on the stock. Finally, Morgan Stanley lifted their price target on shares of BlackRock from $1,224.00 to $1,362.00 and gave the stock an "overweight" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,258.13.

Get Our Latest Stock Report on BLK

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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