Kanawha Capital Management LLC Purchases 448 Shares of BlackRock $BLK

Key Points

• Kanawha Capital Management LLC increased its stake in BlackRock by 8.0%, owning a total of 6,039 shares valued at approximately $6.34 million.
• Brokerages have raised their price targets for BlackRock, with the latest target set at $1,456.00 by Bank of America, indicating strong market expectations for the asset manager.
• BlackRock reported a quarterly EPS of $11.55, missing estimates by $0.23, while experiencing a revenue increase of 25.2% year-over-year.

Kanawha Capital Management LLC increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,039 shares of the asset manager's stock after buying an additional 448 shares during the quarter. Kanawha Capital Management LLC's holdings in BlackRock were worth $6,336,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Garde Capital Inc. grew its stake in shares of BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Fairway Wealth LLC increased its stake in 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. Game Plan Financial Advisors LLC lifted its position in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 15 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth about $31,000. Finally, Cheviot Value Management LLC bought a new position in shares of BlackRock in the 1st quarter valued at about $30,000. Institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on BLK. BNP Paribas Exane increased their price target on BlackRock from $1,160.00 to $1,265.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft set a $1,320.00 price objective on BlackRock and gave the company a "buy" rating in a report on Wednesday. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America increased their price target on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Barclays boosted their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,300.81.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company's stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,161.63 on Friday. 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 12 month low of $773.74 and a 12 month high of $1,219.94. The stock has a 50 day moving average of $1,140.85 and a 200-day moving average of $1,042.27. The company has a market capitalization of $179.88 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.03 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter in the prior year, the firm posted $11.46 earnings per share. The business's revenue was up 25.2% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's payout ratio is currently 53.59%.

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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