931 Shares in BlackRock (NYSE:BLK) Purchased by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC acquired a new stake in BlackRock during the first quarter, purchasing 931 shares valued at approximately $881,000.
• BlackRock's quarterly earnings exceeded expectations with $12.05 EPS, compared to a consensus estimate of $10.41, while revenue rose 12.9% year-over-year to $5.42 billion.
• The company announced a quarterly dividend of $5.21 per share, representing a dividend yield of 1.9%, with a payout ratio currently at 50.39%.

Longfellow Investment Management Co. LLC bought a new stake in BlackRock (NYSE:BLK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 931 shares of the asset manager's stock, valued at approximately $881,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cypress Capital Group raised its stake in BlackRock by 1.3% in the first quarter. Cypress Capital Group now owns 7,592 shares of the asset manager's stock valued at $7,185,000 after purchasing an additional 94 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of BlackRock by 6.8% during the first quarter. Meridian Wealth Management LLC now owns 502 shares of the asset manager's stock worth $475,000 after acquiring an additional 32 shares in the last quarter. Operose Advisors LLC purchased a new position in shares of BlackRock during the first quarter worth approximately $62,000. Independent Advisor Alliance raised its stake in shares of BlackRock by 3.9% during the first quarter. Independent Advisor Alliance now owns 3,619 shares of the asset manager's stock worth $3,425,000 after acquiring an additional 136 shares in the last quarter. Finally, First American Trust FSB raised its stake in shares of BlackRock by 4.3% during the first quarter. First American Trust FSB now owns 11,960 shares of the asset manager's stock worth $11,320,000 after acquiring an additional 491 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Jefferies Financial Group lifted their price target on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Morgan Stanley decreased their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Bank of America lifted their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on 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 sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction on Thursday, July 24th. The shares were 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 approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company's stock.

BlackRock Trading Up 0.1%

NYSE:BLK traded up $1.55 during trading hours on Thursday, hitting $1,161.58. The company had a trading volume of 407,611 shares, compared to its average volume of 766,926. The company has a market capitalization of $179.96 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42. The stock has a 50-day moving average price of $1,064.92 and a 200 day moving average price of $988.28. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.36 earnings per share. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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