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Cetera Investment Advisers Purchases 1,254 Shares of BlackRock (NYSE:BLK)

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Key Points

  • Cetera Investment Advisers increased its stake in BlackRock by 2.6% in the 1st quarter, resulting in ownership of 50,203 shares valued at approximately $47.5 million.
  • In recent analyst ratings, keefe, Bruyette & Woods reduced BlackRock's target price to $1,224 while maintaining an "outperform" rating, indicating a generally positive outlook despite the price adjustment.
  • BlackRock's latest earnings report shows a quarterly EPS of $12.05, surpassing analysts' expectations, along with a revenue of $5.42 billion, representing a 12.9% increase year-on-year.
  • Five stocks we like better than BlackRock.

Cetera Investment Advisers boosted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,203 shares of the asset manager's stock after buying an additional 1,254 shares during the period. Cetera Investment Advisers' holdings in BlackRock were worth $47,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of BlackRock by 401.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in BlackRock during the fourth quarter worth about $572,730,000. Ameriprise Financial Inc. lifted 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 worth $2,152,907,000 after acquiring an additional 329,244 shares in the last quarter. Finally, Northern Trust Corp grew its stake in BlackRock by 20.6% in 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 acquiring an additional 272,176 shares during the period. Institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BLK shares. Morgan Stanley reduced their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America boosted their price objective on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Jefferies Financial Group increased their target price on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Finally, Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

Check Out Our Latest Stock Analysis on BlackRock

BlackRock Price Performance

BLK stock traded down $2.00 during mid-day trading on Wednesday, hitting $1,119.54. The stock had a trading volume of 56,592 shares, compared to its average volume of 784,984. The firm has a fifty day simple moving average of $1,032.58 and a 200 day simple moving average of $978.79. The firm has a market capitalization of $173.45 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.26 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. 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 announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period last year, the firm posted $10.36 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company's stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,352 shares of company stock worth $55,486,962 over the last 90 days. Insiders own 1.98% of the company's stock.

About BlackRock

(Free Report)

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.

Read More

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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