Charles Schwab Trust Co Invests $446,000 in BlackRock $BLK

Key Points

• Charles Schwab Trust Co has made a new investment in BlackRock (NYSE: BLK), acquiring 425 shares valued at approximately $446,000 in the second quarter.
• CEO Laurence Fink sold 14,828 shares of BlackRock stock on July 24, representing a 5.32% decrease in his ownership.
• BlackRock recently reported a quarterly earnings per share (EPS) of $12.05, exceeding expectations and reflecting a 12.9% year-over-year revenue increase.

Charles Schwab Trust Co acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 425 shares of the asset manager's stock, valued at approximately $446,000.

Other institutional investors have also recently bought and sold shares of the company. McLean Asset Management Corp increased its holdings in BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager's stock worth $285,000 after purchasing an additional 10 shares in the last quarter. Trust Co. of Oklahoma lifted its holdings in shares of BlackRock by 0.5% during the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager's stock worth $2,123,000 after purchasing an additional 10 shares during the period. TOWER TRUST & INVESTMENT Co lifted its holdings in BlackRock by 1.3% in the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager's stock valued at $838,000 after buying an additional 10 shares during the period. Detalus Advisors LLC increased its position in shares of BlackRock by 2.8% during the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after acquiring an additional 11 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its stake in BlackRock by 20.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The stock was 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 owned 263,751 shares in the company, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction 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 sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last 90 days. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

NYSE BLK opened at $1,157.69 on Friday. 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 has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a market capitalization of $179.27 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 2.21 and a beta of 1.45. The business's 50-day moving average price is $1,124.77 and its 200 day moving average price is $1,020.52.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the business posted $10.36 EPS. The business's revenue was up 12.9% on a year-over-year basis. On average, research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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

Wall Street Analyst Weigh In

BLK has been the subject of a number of research reports. Evercore ISI upped their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Morgan Stanley decreased their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

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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