BlackRock (NYSE:BLK) Shares Bought by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its holdings in BlackRock by 5.8%, acquiring an additional 5,474 shares, bringing its total to 99,913 shares valued at approximately $94.6 million.
• BlackRock recently reported earnings of $12.05 per share, exceeding the consensus estimate by $1.64, with revenue of $5.42 billion, up 12.9% year-over-year.
• The company announced a quarterly dividend of $5.21 per share, reflecting an annual yield of 1.9%, with a dividend payout ratio of 50.39%.

Scotia Capital Inc. boosted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,913 shares of the asset manager's stock after acquiring an additional 5,474 shares during the period. Scotia Capital Inc. owned about 0.06% of BlackRock worth $94,564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in BlackRock during the fourth quarter worth about $30,000. Fairway Wealth LLC raised its position in shares of BlackRock by 76.5% in 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 during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $31,000. Cheviot Value Management LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $30,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other news, Director J. Richard Kushel sold 17,142 shares of the company's 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 completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction on Thursday, July 24th. The shares were 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 owned 263,751 shares of the company's stock, valued at $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. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last ninety days. 1.98% of the stock is owned by company insiders.

BlackRock Price Performance

BLK opened at $1,091.29 on Friday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,130.66. The company has a 50 day moving average of $1,040.67 and a two-hundred day moving average of $981.44. The company has a market cap of $169.07 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.21 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share 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 the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.36 earnings per share. On average, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders 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 annualized dividend and a dividend yield of 1.9%. BlackRock's dividend payout ratio is 50.39%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLK shares. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. UBS Group reissued a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Finally, Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock 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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