Integrity Alliance LLC. Has $3.29 Million Stake in BlackRock $BLK

Key Points

• Integrity Alliance LLC increased its stake in BlackRock by 676.1%, owning 3,477 shares valued at approximately $3.29 million following the acquisition of an additional 3,029 shares.
• CEO Laurence Fink sold 14,828 shares at an average price of $1,122.28, leading to a 5.32% reduction in their ownership, while other insiders sold a total of 66,494 shares worth around $74.7 million over the last quarter.
• BlackRock reported a quarterly EPS of $12.05, exceeding expectations, and announced a quarterly dividend of $5.21, which will yield 1.9% for shareholders.

Integrity Alliance LLC. grew its position in BlackRock (NYSE:BLK - Free Report) by 676.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,477 shares of the asset manager's stock after acquiring an additional 3,029 shares during the period. Integrity Alliance LLC.'s holdings in BlackRock were worth $3,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Securian Asset Management Inc. bought a new position in shares of BlackRock during the 1st quarter worth approximately $7,331,000. Prudent Man Advisors LLC acquired a new stake in BlackRock during the 1st quarter valued at $2,018,000. Allianz SE boosted its position in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System acquired a new position in shares of BlackRock in the first quarter valued at $40,868,000. Finally, Polar Capital Holdings Plc bought a new position in shares of BlackRock in the fourth quarter valued at about $15,307,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their position. 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 quarter. 1.98% of the stock is owned by corporate insiders.

BlackRock Price Performance

BlackRock stock opened at $1,102.93 on Thursday. The firm has a market cap of $170.79 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock's fifty day moving average price is $1,113.75 and its two-hundred day moving average price is $1,004.60. BlackRock has a one year low of $773.74 and a one year high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last released its 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. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.36 EPS. As a group, research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on BLK. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company lowered their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reduced their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised BlackRock to a "hold" rating in a report on Saturday, May 24th. Finally, Zacks Research downgraded BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

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.

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