Columbus Macro LLC lifted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,644 shares of the asset manager's stock after purchasing an additional 361 shares during the quarter. Columbus Macro LLC's holdings in BlackRock were worth $5,922,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in BLK. Brighton Jones LLC boosted its holdings in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after acquiring an additional 296 shares during the last quarter. Bison Wealth LLC lifted its stake in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 17 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of BlackRock by 11.7% during the first quarter. Farther Finance Advisors LLC now owns 2,561 shares of the asset manager's stock worth $2,418,000 after acquiring an additional 269 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of BlackRock by 112.9% during the first quarter. Pallas Capital Advisors LLC now owns 1,135 shares of the asset manager's stock worth $1,073,000 after acquiring an additional 602 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of BlackRock during the first quarter worth about $674,000. Institutional investors and hedge funds own 80.69% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on BLK. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Jefferies Financial Group increased their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the stock a "buy" rating in a report on Tuesday. TD Cowen increased their price objective on BlackRock from $1,252.00 to $1,301.00 and gave the stock a "buy" rating in a report on Wednesday. Weiss Ratings restated a "buy (b-)" rating on shares of BlackRock in a research report on Wednesday. Finally, Barclays upped their target price on BlackRock from $1,210.00 to $1,310.00 and gave the stock an "overweight" rating in a research report on Wednesday. One 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,254.47.
Check Out Our Latest Stock Analysis on BLK
BlackRock Trading Down 0.2%
NYSE BLK opened at $1,163.72 on Thursday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $180.21 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.45. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13. The firm's fifty day simple moving average is $1,132.82 and its 200-day simple moving average is $1,032.16.
BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 earnings per share. As a group, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's dividend payout ratio is 50.39%.
Insider Activity
In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer directly owned 251,697 shares in the company, valued at $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $19,207,611.00. Following the sale, the director owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last three months. 1.98% of the stock is currently owned by insiders.
BlackRock Company Profile
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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.
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