Albion Financial Group UT lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 124.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,239 shares of the asset manager's stock after acquiring an additional 14,544 shares during the quarter. BlackRock comprises about 1.8% of Albion Financial Group UT's investment portfolio, making the stock its 13th biggest holding. Albion Financial Group UT's holdings in BlackRock were worth $27,531,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in BLK. Vanguard Group Inc. boosted its holdings in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after buying an additional 387,466 shares in the last quarter. Royal Bank of Canada boosted its holdings in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after buying an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager's stock worth $1,142,340,000 after buying an additional 111,694 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after buying an additional 279,336 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in BlackRock by 13.2% during the first quarter. Invesco Ltd. now owns 932,899 shares of the asset manager's stock worth $882,970,000 after buying an additional 108,473 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods reduced 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 report on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Finally, Jefferies Financial Group raised their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,154.07.
View Our Latest Stock Report on BLK
BlackRock Trading Up 0.9%
Shares of NYSE:BLK opened at $1,157.69 on Monday. The firm has a fifty day moving average of $1,124.77 and a two-hundred day moving average of $1,021.36. The firm has a market capitalization of $179.27 billion, a P/E ratio of 27.99, a price-to-earnings-growth 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 $1,171.89. 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 (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $10.36 EPS. On average, equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.
Insider Buying and Selling at BlackRock
In other news, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were 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 approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares in the company, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last quarter. Company insiders own 1.98% of the company's stock.
BlackRock Profile
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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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