Curi RMB Capital LLC Buys 5,961 Shares of BlackRock $BLK

Key Points

• Curi RMB Capital LLC increased its BlackRock holdings by 36.9%, acquiring an additional 5,961 shares in the first quarter, bringing its total shares to 22,097 worth approximately $20.9 million.
• Institutional ownership of BlackRock stands at 80.69%, with notable increases from firms like Royal Bank of Canada (up 73.2%) and GAMMA Investing LLC (up 104,598.9%).
• BlackRock's recent quarterly earnings surpassed estimates, reporting $12.05 earnings per share against a consensus of $10.41, and declared a quarterly dividend of $5.21 scheduled for payment on September 23rd.

Curi RMB Capital LLC lifted its stake in BlackRock (NYSE:BLK - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,097 shares of the asset manager's stock after purchasing an additional 5,961 shares during the quarter. Curi RMB Capital LLC's holdings in BlackRock were worth $20,915,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLK. GAMMA Investing LLC increased its position 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 worth $3,312,759,000 after purchasing an additional 3,496,740 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of BlackRock by 401.5% during 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 worth $1,122,743,000 after purchasing an additional 876,836 shares during the period. Royal Bank of Canada lifted its stake in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. Vanguard Group Inc. boosted its holdings in BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after acquiring an additional 387,466 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after purchasing an additional 279,336 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,154.07.

Insiders Place Their Bets

In other news, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock 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 value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

BLK stock traded up $5.06 during midday trading on Monday, hitting $1,104.21. 555,718 shares of the stock were exchanged, compared to its average volume of 737,801. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The stock has a market cap of $170.99 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.10 and a beta of 1.45. The stock's 50-day moving average price is $1,110.95 and its 200-day moving average price is $1,002.29. 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 released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $10.36 EPS. Research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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

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.