RB Capital Management LLC Has $1.03 Million Stock Position in BlackRock $BLK

Key Points

• RB Capital Management LLC increased its stake in BlackRock by 254.2% during the first quarter, owning 1,091 shares valued at approximately $1,033,000.
• BlackRock recently announced a quarterly dividend of $5.21 per share, which equates to an annualized dividend of $20.84 and a yield of 1.8%.
• The company's earnings surpassed expectations, with a reported EPS of $12.05 against a consensus estimate of $10.41, marking a significant year-over-year revenue increase of 12.9%.

RB Capital Management LLC boosted its stake in BlackRock (NYSE:BLK - Free Report) by 254.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,091 shares of the asset manager's stock after buying an additional 783 shares during the quarter. RB Capital Management LLC's holdings in BlackRock were worth $1,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in BlackRock by 2.9% in the 1st 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. GAMMA Investing LLC lifted its position in BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Ameriprise Financial Inc. lifted its position in BlackRock by 18.6% in the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after buying an additional 329,244 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in BlackRock by 32.8% in the 1st 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in BlackRock by 401.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Finally, Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

BlackRock Stock Performance

NYSE:BLK traded down $2.03 during midday trading on Friday, reaching $1,128.45. The stock had a trading volume of 356,048 shares, compared to its average volume of 487,929. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,171.89. The firm's fifty day simple moving average is $1,101.81 and its 200-day simple moving average is $997.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $174.74 billion, a P/E ratio of 27.28, a PEG ratio of 2.16 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted 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. 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 posted $10.36 EPS. BlackRock's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors 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 dividend payout ratio (DPR) is presently 50.39%.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction 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 transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction on 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 completion of the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.

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.