BlackRock $BLK Shares Acquired by Dynamic Advisor Solutions LLC

Key Points

• Dynamic Advisor Solutions LLC increased its stake in BlackRock by 20.6%, raising its total shares to 7,158, valued at approximately $7.51 million by the end of the second quarter.
• BlackRock reported $12.05 earnings per share for the recent quarter, exceeding analysts' expectations of $10.41, with revenue of $5.42 billion.
• The company declared a quarterly dividend of $5.21 per share, reflecting a yield of 1.9%, payable on September 23rd to shareholders on record as of September 5th.

Dynamic Advisor Solutions LLC grew its stake in BlackRock (NYSE:BLK - Free Report) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,158 shares of the asset manager's stock after buying an additional 1,223 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in BlackRock were worth $7,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 3,496,740 shares in the last quarter. 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 acquiring an additional 876,836 shares during the last quarter. 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 acquiring an additional 555,098 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after acquiring an additional 387,466 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in BlackRock by 32.8% during 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. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

Shares of BLK stock traded up $5.63 during trading hours on Friday, reaching $1,142.76. The company had a trading volume of 1,504,904 shares, compared to its average volume of 445,605. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a fifty day moving average of $1,119.02 and a 200-day moving average of $1,011.55. The company has a market capitalization of $176.96 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.18 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The business 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 business's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $10.36 earnings per share. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the company's 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 transaction, 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 have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group reiterated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of "Moderate Buy" and an average target price of $1,154.07.

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.