FCG Investment Co Makes New Investment in BlackRock $BLK

Key Points

• FCG Investment Co has invested approximately $1.30 million in BlackRock by purchasing 1,371 shares, highlighting ongoing interest from institutional investors in the asset management firm.
• BlackRock's stock has seen a 2.1% decline, with an average consensus target price set at $1,151.21, supported by multiple "overweight" ratings from analysts.
• The company recently announced a quarterly dividend of $5.21, resulting in an annualized yield of 1.8% and a dividend payout ratio of 50.39%.

FCG Investment Co acquired a new position in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,371 shares of the asset manager's stock, valued at approximately $1,298,000.

Several other large investors have also recently bought and sold shares of BLK. Brighton Jones LLC boosted its holdings in BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares during the period. Jump Financial LLC raised its position in BlackRock by 1.6% in the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock worth $806,000 after purchasing an additional 12 shares during the period. Cadence Bank raised its position in BlackRock by 14.0% in the 4th quarter. Cadence Bank now owns 488 shares of the asset manager's stock worth $500,000 after purchasing an additional 60 shares during the period. GeoWealth Management LLC purchased a new position in shares of BlackRock in the fourth quarter valued at about $883,000. Finally, Forum Financial Management LP increased its position in shares of BlackRock by 20.7% in the fourth quarter. Forum Financial Management LP now owns 1,551 shares of the asset manager's stock valued at $1,590,000 after acquiring an additional 266 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. 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 note on Wednesday, July 16th. The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Barclays boosted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Jefferies Financial Group lifted their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Trading Down 0.7%

Shares of NYSE BLK traded down $8.3170 during mid-day trading on Tuesday, reaching $1,127.8030. The company had a trading volume of 602,769 shares, compared to its average volume of 498,334. The business's 50-day moving average is $1,077.04 and its 200-day moving average is $990.15. 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 stock has a market cap of $174.64 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. BlackRock has a 52 week low of $773.74 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the prior year, the business posted $10.36 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared 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. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

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.