Fox Run Management L.L.C. Makes New $765,000 Investment in BlackRock $BLK

Key Points

• Fox Run Management L.L.C. acquired 808 shares of BlackRock stock, valued at approximately $765,000, during the first quarter.
• BlackRock reported a 12.9% increase in revenue compared to the same quarter last year, with an earnings per share (EPS) of $12.05 for the most recent quarter.
• The company announced a quarterly dividend of $5.21 per share, with a 1.8% dividend yield, set to be paid on September 23rd.

Fox Run Management L.L.C. purchased a new position in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 808 shares of the asset manager's stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds have also modified their holdings of BLK. GAMMA Investing LLC increased its position in shares of BlackRock by 104,598.9% during 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 purchasing an additional 3,496,740 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of BlackRock by 401.5% during the fourth 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 valued at $1,122,743,000 after purchasing an additional 876,836 shares during the period. Vanguard Group Inc. increased its position in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the period. Ameriprise Financial Inc. increased its position in shares of BlackRock by 18.6% during 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 purchasing an additional 329,244 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of BlackRock by 32.8% during the first 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 during the period. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated 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 in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company's stock.

BlackRock Trading Down 0.2%

Shares of BLK traded down $2.4480 during trading hours on Wednesday, hitting $1,126.0220. 197,181 shares of the stock traded hands, compared to its average volume of 759,245. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,171.89. The firm has a market capitalization of $174.36 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The business has a fifty day moving average of $1,077.04 and a 200-day moving average of $990.15.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating 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 firm posted $10.36 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on BLK shares. Zacks Research cut BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley lowered their price target on BlackRock from $1,247.00 to $1,224.00 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. Jefferies Financial Group upped their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Finally, UBS Group reiterated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

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.