Invst LLC Has $1.52 Million Stock Holdings in BlackRock $BLK

Key Points

• Invst LLC reduced its stake in BlackRock by 34.1%, owning 1,602 shares valued at approximately $1.52 million after selling 828 shares during the first quarter.
• Several institutional investors, including GAMMA Investing LLC and Royal Bank of Canada, significantly increased their stakes in BlackRock, with GAMMA increasing its position by an astonishing 104,598.9%.
• BlackRock reported earnings of $12.05 per share for the last quarter, surpassing analyst estimates, and recently declared a quarterly dividend of $5.21 per share, reflecting a yield of 1.8%.

Invst LLC trimmed its position in BlackRock (NYSE:BLK - Free Report) by 34.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,602 shares of the asset manager's stock after selling 828 shares during the quarter. Invst LLC's holdings in BlackRock were worth $1,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC increased its stake in shares of BlackRock by 104,598.9% in the 1st 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of BlackRock by 401.5% during the 4th 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 worth $1,122,743,000 after buying an additional 876,836 shares during the last quarter. Royal Bank of Canada boosted its stake in BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock valued at $1,243,059,000 after buying an additional 555,098 shares in the last quarter. Vanguard Group Inc. grew its position in BlackRock by 2.9% in 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 acquiring an additional 387,466 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated 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 transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 in the last ninety days. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. Barclays raised their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group reiterated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America increased their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

BlackRock Price Performance

BLK stock opened at $1,134.72 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a market cap of $175.71 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.11 and a beta of 1.45. The company's fifty day simple moving average is $1,114.91 and its 200 day simple moving average is $1,005.86. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during 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%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $10.36 EPS. On average, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

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.

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