Blair William & Co. IL Acquires 3,674 Shares of BlackRock $BLK

Key Points

• Blair William & Co. IL increased its stake in BlackRock by 5.6%, acquiring an additional 3,674 shares, bringing its total holdings to 69,482 shares valued at approximately $72.9 million.
• BlackRock reported earnings per share (EPS) of $12.05 for the last quarter, surpassing the expected $10.41, with revenue reaching $5.42 billion, marking a 12.9% increase year-over-year.
• The company declared a quarterly dividend of $5.21 per share, resulting in an annualized dividend of $20.84 and a yield of 1.8%.

Blair William & Co. IL raised its holdings in BlackRock (NYSE:BLK - Free Report) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,482 shares of the asset manager's stock after acquiring an additional 3,674 shares during the quarter. Blair William & Co. IL's holdings in BlackRock were worth $72,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after buying an additional 18 shares during the last quarter. Fairway Wealth LLC raised its position in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC boosted its stake in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in BlackRock during the first quarter valued at approximately $31,000. Finally, Cheviot Value Management LLC bought a new stake in BlackRock in the first quarter valued at approximately $30,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of BLK opened at $1,163.72 on Thursday. The stock has a market capitalization of $180.21 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.20 and a beta of 1.45. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,184.13. The firm has a fifty day simple moving average of $1,132.82 and a 200 day simple moving average of $1,032.16. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last issued 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 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $10.36 EPS. The company's revenue was up 12.9% compared to the same quarter last year. Research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio is 50.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BLK shares. Evercore ISI lifted their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group raised their price target on BlackRock from $1,196.00 to $1,325.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on BlackRock from $1,224.00 to $1,396.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $1,254.47.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 in the last ninety days. 1.98% of the stock is owned by company insiders.

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.

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