Penserra Capital Management LLC Grows Position in BlackRock (NYSE:BLK)

Penserra Capital Management LLC raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 115.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 822 shares of the asset manager's stock after purchasing an additional 440 shares during the quarter. Penserra Capital Management LLC's holdings in BlackRock were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. IAG Wealth Partners LLC purchased a new position in shares of BlackRock during the 4th quarter worth about $26,000. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the 4th quarter worth about $30,000. MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock during the 1st quarter worth about $31,000. Curio Wealth LLC purchased a new position in shares of BlackRock during the 4th quarter worth about $41,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of BlackRock during the 4th quarter worth about $43,000. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of BlackRock in a report on Tuesday, July 8th. UBS Group reiterated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,132.29.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Down 0.1%

Shares of NYSE BLK traded down $1.42 during trading hours on Friday, hitting $1,102.63. 545,380 shares of the stock were exchanged, compared to its average volume of 693,792. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market cap of $170.83 billion, a PE ratio of 26.79, a PEG ratio of 2.24 and a beta of 1.41. The firm has a fifty day moving average price of $996.68 and a 200-day moving average price of $971.03. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,105.72.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. BlackRock's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.81 EPS. On average, sell-side analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is presently 50.63%.

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.