BlackRock $BLK Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in BlackRock by 1.4%, now holding 33,632 shares valued at approximately $35.46 million.
• BlackRock reported a quarterly earnings per share (EPS) of $11.55, missing expectations by ($0.23), but achieved revenue of $6.51 billion, exceeding forecasts by $0.29 billion.
• The company declared a quarterly dividend of $5.21 per share, reflecting an annualized dividend yield of 1.7% and a payout ratio of 50.39%.

Allspring Global Investments Holdings LLC raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,632 shares of the asset manager's stock after buying an additional 480 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in BlackRock were worth $35,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC raised its stake in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. raised its stake in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in BlackRock during the first quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,201.37 on Thursday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The firm has a market capitalization of $186.03 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. The business has a 50 day simple moving average of $1,138.95 and a 200 day simple moving average of $1,039.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the company earned $11.46 earnings per share. The business's quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analyst Ratings Changes

Several analysts have issued reports on BLK shares. Weiss Ratings restated a "buy (b-)" rating on shares of BlackRock in a research note on Wednesday, October 8th. TD Cowen increased their price target on BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a research report on Wednesday. BNP Paribas Exane increased their price target on BlackRock from $1,160.00 to $1,265.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. BMO Capital Markets began coverage on BlackRock in a research report on Friday, October 3rd. They set an "outperform" rating and a $1,280.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,300.81.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at approximately $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 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

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.

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