Liontrust Investment Partners LLP Buys New Position in BlackRock $BLK

Key Points

• Liontrust Investment Partners LLP acquired a new stake of 8,507 shares in BlackRock valued at approximately $8,052,000 during the first quarter of the year.
• Director J. Richard Kushel and Director Rachel Lord both sold significant portions of their holdings, resulting in ownership decreases of 21.83% and 48.43%, respectively.
• BlackRock recently reported quarterly earnings of $12.05 per share, surpassing analysts' expectations, alongside a declared quarterly dividend of $5.21 to be paid on September 23rd.

Liontrust Investment Partners LLP bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,507 shares of the asset manager's stock, valued at approximately $8,052,000.

Other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc. bought a new stake in BlackRock during the 1st quarter valued at approximately $7,331,000. Prudent Man Advisors LLC bought a new stake in shares of BlackRock in the first quarter valued at approximately $2,018,000. Arizona State Retirement System acquired a new stake in shares of BlackRock in the first quarter worth $40,868,000. Allianz SE increased 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 acquiring an additional 277 shares during the period. Finally, Polar Capital Holdings Plc acquired a new position in BlackRock during the 4th quarter valued at $15,307,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BlackRock stock traded up $1.34 during mid-day trading on Monday, reaching $1,136.35. 405,809 shares of the company were exchanged, compared to its average volume of 500,335. The firm has a market cap of $175.96 billion, a PE ratio of 27.47, a PEG ratio of 2.28 and a beta of 1.42. 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 company has a fifty day simple moving average of $1,071.38 and a 200-day simple moving average of $988.76. 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 issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm posted $10.36 EPS. The firm's quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is currently 50.39%.

Insider Transactions at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction dated 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 directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on BLK. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America boosted their price objective on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

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.