Trilogy Capital Inc. Grows Position in BlackRock (NYSE:BLK)

Key Points

• Trilogy Capital Inc. increased its holdings in BlackRock by 54.8%, now owning 791 shares valued at approximately $749,000.
• Several hedge funds, including the Arizona State Retirement System, have made substantial new investments in BlackRock, reflecting a strong interest among institutional investors.
• BlackRock's CEO, Laurence Fink, sold over 12,000 shares of stock recently, reducing his ownership by 4.57%, amidst ongoing insider selling totaling nearly $55 million over the last ninety days.

Trilogy Capital Inc. lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 54.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 791 shares of the asset manager's stock after acquiring an additional 280 shares during the quarter. Trilogy Capital Inc.'s holdings in BlackRock were worth $749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fairway Wealth LLC raised its position in 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 in the last quarter. Investment Management Corp VA ADV purchased a new stake in BlackRock during the fourth quarter valued at about $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock during the first quarter valued at about $31,000. CBIZ Investment Advisory Services LLC purchased a new stake in BlackRock during the first quarter valued at about $34,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in BlackRock during the fourth quarter valued at about $43,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.1%

BlackRock stock traded down $1.12 during trading hours on Wednesday, hitting $1,120.42. 67,343 shares of the stock traded hands, compared to its average volume of 785,069. The firm's 50-day moving average price is $1,032.58 and its two-hundred day moving average price is $978.79. 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 company has a market cap of $173.59 billion, a PE ratio of 27.09, a PEG ratio of 2.26 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The business's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.36 EPS. On average, research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.86%. BlackRock's dividend payout ratio is currently 50.39%.

Insider Transactions at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director directly 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. Insiders have sold a total of 49,352 shares of company stock valued at $55,486,962 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BLK shares. The Goldman Sachs Group restated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group lifted their price objective on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Wells Fargo & Company decreased their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, TD Cowen decreased their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. 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 presently has an average rating of "Moderate Buy" and a consensus 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.