CTC Alternative Strategies Ltd. Purchases New Shares in BlackRock $BLK

Key Points

• CTC Alternative Strategies Ltd. invested $4.16 million in BlackRock by acquiring 4,400 shares, making BlackRock approximately 5.1% of their investment portfolio.
• Insider sales included BlackRock Director Rachel Lord selling 18,036 shares for about $20.3 million and CEO Laurence Fink selling 12,054 shares for around $13.6 million, both transactions occurring on July 25th.
• BlackRock's recent earnings report showed an EPS of $12.05, surpassing analyst expectations, alongside a quarterly revenue of $5.42 billion, marking a 12.9% year-over-year increase.

CTC Alternative Strategies Ltd. acquired a new position in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,400 shares of the asset manager's stock, valued at approximately $4,165,000. BlackRock makes up about 5.1% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 3rd biggest position.

Other large investors also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in BlackRock during the 4th quarter worth about $30,000. Fairway Wealth LLC lifted its position in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock during the first quarter valued at approximately $31,000. Cheviot Value Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $30,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $34,000. Institutional investors own 80.69% of the company's stock.

Insider Activity

In other news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction 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 transaction, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at $283,267,354.71. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on BLK shares. UBS Group reaffirmed a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Evercore ISI raised their price target on BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,154.07.

BlackRock Trading Down 0.9%

NYSE BLK opened at $1,099.21 on Monday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The stock has a 50-day simple moving average of $1,110.95 and a 200 day simple moving average of $1,002.29. 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 $170.21 billion, a PE ratio of 26.58, a P/E/G ratio of 2.10 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its 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. The company had revenue of $5.42 billion during 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 company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $10.36 EPS. Research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

About BlackRock

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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