Foundations Investment Advisors LLC increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 38.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,379 shares of the asset manager's stock after buying an additional 385 shares during the period. Foundations Investment Advisors LLC's holdings in BlackRock were worth $1,306,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Capital World Investors lifted its holdings in shares of BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares during the period. GAMMA Investing LLC lifted its holdings in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Geode Capital Management LLC lifted its holdings in BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the period. FMR LLC lifted its holdings in BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after acquiring an additional 26,485 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after acquiring an additional 329,244 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Trading Down 1.3%
Shares of NYSE:BLK traded down $14.72 during trading on Friday, reaching $1,091.29. 672,794 shares of the stock were exchanged, compared to its average volume of 784,457. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66. The firm has a market cap of $169.07 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.25 and a beta of 1.41. The firm's 50-day moving average price is $1,038.13 and its 200 day moving average price is $980.77.
BlackRock (NYSE:BLK - Get Free Report) last announced its 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. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $10.36 EPS. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.
Insider Activity at BlackRock
In related news, Director Rachel Lord sold 18,036 shares of the company'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 transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares of the company's stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,352 shares of company stock valued at $55,486,962. Corporate insiders own 1.98% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on BLK. Barclays raised their target price on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group reissued a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group raised their target price on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. TD Cowen cut their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America lifted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.
Read Our Latest Stock Report on BLK
BlackRock Company Profile
(
Free Report)
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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