Brentview Investment Management LLC Purchases 243 Shares of BlackRock (NYSE:BLK)

Key Points

• Brentview Investment Management LLC increased its stake in BlackRock by 6.9% during the first quarter, acquiring an additional 243 shares, bringing its total holdings to 3,772 shares valued at $3,571,000.
• Several large investors, including Capital World Investors and GAMMA Investing LLC, also raised their positions in BlackRock significantly, indicating a growing confidence in the asset manager.
• BlackRock recently reported mixed analyst ratings, with a consensus target price of $1,151.21, reflecting varying perspectives on its stock's potential performance.

Brentview Investment Management LLC raised its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772 shares of the asset manager's stock after acquiring an additional 243 shares during the quarter. Brentview Investment Management LLC's holdings in BlackRock were worth $3,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BLK. Capital World Investors grew its holdings in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after purchasing an additional 93,844 shares during the last quarter. GAMMA Investing LLC grew its holdings in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares during the last quarter. FMR LLC grew its holdings in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in BlackRock by 18.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after purchasing an additional 329,244 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in BlackRock by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock valued at $1,631,684,000 after purchasing an additional 272,176 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. UBS Group reiterated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insiders Place Their Bets

In other news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction 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 transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction 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 sale, the director owned 19,205 shares in the company, valued at $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

NYSE:BLK traded down $14.72 during mid-day trading on Friday, hitting $1,091.29. 672,794 shares of the stock were exchanged, compared to its average volume of 646,030. The stock has a market capitalization of $169.07 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. The firm's 50-day simple moving average is $1,040.67 and its 200 day simple moving average is $981.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during 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 firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $10.36 EPS. As a group, equities analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared 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 (DPR) is presently 50.39%.

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.