Everett Harris & Co. CA Has $3.75 Million Stake in BlackRock (NYSE:BLK)

Key Points

• Everett Harris & Co. CA increased its stake in BlackRock by 15.9% to 3,965 shares, with a total value of $3.75 million.
• BlackRock reported $12.05 earnings per share, exceeding estimates, with a revenue growth of 12.9% year-over-year.
• The company declared a quarterly dividend of $5.21 per share, reflecting an annual yield of 1.9% and a payout ratio of 50.39%.

Everett Harris & Co. CA grew its holdings in BlackRock (NYSE:BLK - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,965 shares of the asset manager's stock after purchasing an additional 543 shares during the quarter. Everett Harris & Co. CA's holdings in BlackRock were worth $3,753,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Investment Management Corp VA ADV bought a new position in shares of BlackRock in the fourth quarter worth about $30,000. Fairway Wealth LLC increased its holdings in shares of 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 in the last quarter. MorganRosel Wealth Management LLC bought a new position in BlackRock in the 1st quarter worth approximately $31,000. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter worth $30,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in BlackRock in the 1st quarter valued at $34,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.6%

BLK stock opened at $1,113.87 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market capitalization of $172.57 billion, a P/E ratio of 26.93, a P/E/G ratio of 2.25 and a beta of 1.42. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,131.93. The business has a 50-day moving average of $1,052.01 and a 200-day moving average of $984.72.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data 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. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $10.36 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. 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 research report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company cut 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 report on Wednesday, July 16th. Finally, Jefferies Financial Group lifted their target price on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of the company's 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 transaction of $19,207,611.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by insiders.

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.

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