Duncker Streett & Co. Inc. Acquires 220 Shares of BlackRock $BLK

Key Points

• Duncker Streett & Co. Inc. has increased its stakes in BlackRock by 48.2%, owning 676 shares valued at approximately $710,000 following the acquisition of an additional 220 shares in the 2nd quarter.
• Several analysts have raised their target prices for BlackRock, including Goldman Sachs increasing it from $1,163 to $1,312 and Jefferies Financial Group raising it from $1,196 to $1,325, both maintaining a "buy" rating.
• BlackRock recently reported a quarterly EPS of $11.55, which fell short of the estimated $11.78, despite a 25.2% year-over-year revenue increase to $6.51 billion.

Duncker Streett & Co. Inc. increased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 48.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 676 shares of the asset manager's stock after buying an additional 220 shares during the quarter. Duncker Streett & Co. Inc.'s holdings in BlackRock were worth $710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Garde Capital Inc. lifted its position in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after buying an additional 18 shares during the last quarter. Fairway Wealth LLC raised its position in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in BlackRock in the first quarter valued at about $31,000. Finally, Cheviot Value Management LLC bought a new position in BlackRock in the first quarter valued at about $30,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. The Goldman Sachs Group increased their target price on BlackRock from $1,163.00 to $1,312.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Jefferies Financial Group increased their target price on BlackRock from $1,196.00 to $1,325.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Wells Fargo & Company dropped their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, BMO Capital Markets initiated coverage on BlackRock in a research report on Friday, October 3rd. They issued an "outperform" rating and a $1,280.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,267.69.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

BlackRock Trading Up 3.3%

Shares of BLK stock opened at $1,193.23 on Wednesday. The stock has a market cap of $184.77 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.10 and a beta of 1.45. The stock has a 50-day moving average of $1,137.33 and a 200-day moving average of $1,038.10. 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 1-year low of $773.74 and a 1-year high of $1,209.82.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the business earned $11.46 EPS. The company's revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 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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