Blair William & Co. IL Purchases 13,185 Shares of BlackRock (NYSE:BLK)

Key Points

• Blair William & Co. IL has increased its holdings in BlackRock (NYSE:BLK) by 25.1% with the purchase of 13,185 shares in the 1st quarter, bringing their total shares to 65,808 valued at approximately $62.3 million.
• BlackRock reported earnings of $12.05 per share for the last quarter, exceeding analysts' expectations and marking a 12.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $5.21, with the ex-dividend date set for September 5th, representing a 1.9% yield and a payout ratio of 50.39%.

Blair William & Co. IL lifted its position in shares of BlackRock (NYSE:BLK - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,808 shares of the asset manager's stock after buying an additional 13,185 shares during the quarter. Blair William & Co. IL's holdings in BlackRock were worth $62,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Argent Trust Co boosted its position in BlackRock by 2.8% during the first quarter. Argent Trust Co now owns 15,308 shares of the asset manager's stock valued at $14,489,000 after acquiring an additional 415 shares during the last quarter. Delta Financial Group Inc. lifted its stake in shares of BlackRock by 52.8% in the 1st quarter. Delta Financial Group Inc. now owns 512 shares of the asset manager's stock valued at $493,000 after purchasing an additional 177 shares during the period. Scotia Capital Inc. boosted its position in shares of BlackRock by 5.8% during the 1st quarter. Scotia Capital Inc. now owns 99,913 shares of the asset manager's stock valued at $94,564,000 after purchasing an additional 5,474 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in BlackRock during the first quarter worth approximately $30,000. Finally, Quantum Financial Planning Services Inc. increased its holdings in BlackRock by 17.0% in the first quarter. Quantum Financial Planning Services Inc. now owns 365 shares of the asset manager's stock worth $345,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

BLK stock opened at $1,091.29 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The business has a 50-day simple moving average of $1,040.67 and a two-hundred day simple moving average of $981.35. The company has a market capitalization of $169.07 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $10.36 earnings per share. The company's revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal 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 presently 50.39%.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Citigroup reduced 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 report on Monday, April 14th. 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, Bank of America increased their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated 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 sale, the director directly owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock 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 transaction of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by insiders.

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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