BlackRock (NYSE:BLK) Position Increased by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC increased its stake in BlackRock by 50.7%, owning 2,393 shares valued at approximately $2.27 million following the purchase of 805 additional shares.
• BlackRock's recent quarterly earnings report revealed an earnings per share of $12.05, exceeding the analyst estimate of $10.41, along with a revenue of $5.42 billion.
• The company declared a quarterly dividend of $5.21 per share, with a dividend yield of 1.9%, set to be paid on September 23rd.

AlphaCore Capital LLC raised its stake in BlackRock (NYSE:BLK - Free Report) by 50.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,393 shares of the asset manager's stock after buying an additional 805 shares during the period. AlphaCore Capital LLC's holdings in BlackRock were worth $2,265,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BLK. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the period. Capital World Investors raised its holdings in BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after buying an additional 93,844 shares during the period. GAMMA Investing LLC lifted its stake in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of BlackRock by 18.6% in the fourth 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 during the period. Finally, Northern Trust Corp increased its position in shares of BlackRock by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock worth $1,631,684,000 after acquiring an additional 272,176 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK opened at $1,113.87 on Friday. The stock has a fifty day moving average price of $1,052.01 and a 200 day moving average price of $984.72. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,131.93. The stock has a market cap of $172.57 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.25 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $10.36 EPS. Analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock's dividend payout ratio is 50.39%.

Analyst Ratings Changes

Several equities research analysts recently commented on BLK shares. Wells Fargo & Company reduced their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Barclays increased their target price on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America raised their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Jefferies Financial Group upped their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Finally, Argus reissued a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of the company'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 completion of the sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $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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