369 Shares in BlackRock (NYSE:BLK) Purchased by Cooper Financial Group

Key Points

• Cooper Financial Group recently acquired 369 shares of BlackRock, valued at approximately $349,000, marking their entry into the asset management company.
• Institutional ownership of BlackRock stands at 80.69%, with significant stake increases from firms like GAMMA Investing LLC, UBS AM, and Vanguard Group.
• BlackRock reported a 12.05 EPS for the last quarter, exceeding analyst expectations, alongside a declared dividend of $5.21 per share to be distributed in September.

Cooper Financial Group acquired a new position in BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 369 shares of the asset manager's stock, valued at approximately $349,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after buying an additional 387,466 shares in the last quarter. Capital World Investors grew its holdings in BlackRock by 2.3% during the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after buying an additional 93,844 shares in the last quarter. GAMMA Investing LLC grew its holdings in BlackRock by 104,598.9% during 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 buying an additional 3,496,740 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in BlackRock by 18.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after buying an additional 329,244 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in BlackRock by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock valued at $1,631,684,000 after buying an additional 272,176 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% 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. 1.98% of the stock is owned by company insiders.

BlackRock Stock Up 0.1%

NYSE:BLK traded up $1.55 during mid-day trading on Thursday, hitting $1,161.58. 407,611 shares of the company's stock traded hands, compared to its average volume of 767,336. The company has a fifty day moving average of $1,064.92 and a 200 day moving average of $988.28. 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 $179.96 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.33 and a beta of 1.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

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

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be 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 is Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLK. Bank of America raised their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Barclays raised their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Jefferies Financial Group lifted their target price on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

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.