Fiduciary Family Office LLC Makes New $558,000 Investment in BlackRock (NYSE:BLK)

Key Points

• Fiduciary Family Office LLC invested approximately $558,000 in BlackRock by acquiring 590 shares, showcasing confidence in the asset management firm during the first quarter.
• BlackRock has recently announced a quarterly dividend of $5.21 per share, reflecting an annualized payout of $20.84 and a yield of 1.9%.
• Insider transactions included director Rachel Lord selling over 18,000 shares, leading to a significant decrease in her ownership, highlighting possible insider sentiment regarding the stock.

Fiduciary Family Office LLC bought a new position in BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 590 shares of the asset manager's stock, valued at approximately $558,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Fairway Wealth LLC grew its position in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the 4th quarter valued at about $30,000. Cheviot Value Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at about $30,000. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at about $31,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in shares of BlackRock in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the firm's 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 value of $19,207,611.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. Company insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.0%

Shares of NYSE:BLK opened at $1,124.20 on Friday. The business's 50 day simple moving average is $1,054.94 and its two-hundred day simple moving average is $985.34. The firm has a market cap of $174.17 billion, a P/E ratio of 27.18, a PEG ratio of 2.26 and a beta of 1.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.34 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,131.93.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $10.36 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced 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 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Bank of America upped their target price on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. 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, BlackRock currently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

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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