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Carnegie Investment Counsel Grows Stock Position in BlackRock (NYSE:BLK)

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Carnegie Investment Counsel increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 48.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,934 shares of the asset manager's stock after buying an additional 13,657 shares during the period. BlackRock accounts for 0.8% of Carnegie Investment Counsel's holdings, making the stock its 26th biggest position. Carnegie Investment Counsel's holdings in BlackRock were worth $36,097,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. acquired a new stake in BlackRock during the first quarter worth about $7,331,000. Prudent Man Advisors LLC acquired a new stake in BlackRock during the first quarter worth about $2,018,000. Arizona State Retirement System acquired a new stake in BlackRock during the first quarter worth about $40,868,000. Polar Capital Holdings Plc acquired a new stake in BlackRock during the fourth quarter worth about $15,307,000. Finally, Community Financial Services Group LLC increased its position in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after purchasing an additional 836 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction on 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 directly owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,352 shares of company stock valued at $55,486,962. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BlackRock stock traded up $5.11 during trading on Friday, reaching $1,123.48. The company's stock had a trading volume of 516,296 shares, compared to its average volume of 672,644. The company has a 50-day moving average price of $1,027.64 and a two-hundred day moving average price of $976.73. The firm has a market cap of $174.06 billion, a PE ratio of 27.16, a P/E/G ratio of 2.27 and a beta of 1.41. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66. 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 (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $10.36 EPS. On average, analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.85%. BlackRock's dividend payout ratio is currently 50.39%.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Wells Fargo & Company lowered 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 research note on Wednesday, July 16th. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Telsey Advisory Group reissued an "outperform" 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Check Out Our Latest Stock Report on BLK

BlackRock Company Profile

(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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