BlackRock (NYSE:BLK) Stake Raised by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in BlackRock by 8.9%, owning 29,356 shares valued at approximately $27.8 million as of the latest SEC filing.
• Despite some analysts lowering their price targets for BlackRock, the stock maintains a consensus rating of "Moderate Buy" with a price target averaging $1,151.21.
• BlackRock recently declared a quarterly dividend of $5.21 per share, representing an annualized dividend yield of 1.9%.

J. Safra Sarasin Holding AG boosted its holdings in BlackRock (NYSE:BLK - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,356 shares of the asset manager's stock after buying an additional 2,410 shares during the period. J. Safra Sarasin Holding AG's holdings in BlackRock were worth $27,785,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BLK. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $30,000. Fairway Wealth LLC raised its stake in shares of 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 purchasing an additional 13 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the first quarter valued at approximately $31,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of BlackRock during the first quarter valued at approximately $34,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of BlackRock during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Activity

In other news, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated 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 sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by insiders.

BlackRock Stock Performance

BlackRock stock traded down $14.72 during mid-day trading on Friday, reaching $1,091.29. The company's stock had a trading volume of 672,794 shares, compared to its average volume of 679,700. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,130.66. The firm has a market cap of $169.07 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.21 and a beta of 1.42. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $1,040.67 and a 200-day moving average price of $981.35.

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. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company posted $10.36 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on BLK shares. Bank of America lifted their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group lifted their price target on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Finally, Citigroup dropped their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

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.