BlackRock (NYSE:BLK) Shares Purchased by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP increased its stake in BlackRock by 30.6%, acquiring an additional 1,702 shares, bringing its total holdings to 7,271 shares valued at approximately $6.88 million.
• BlackRock reported an EPS of $12.05 for the last quarter, exceeding analyst estimates of $10.41, with a 12.9% year-over-year revenue increase to $5.42 billion.
• The company announced a quarterly dividend of $5.21 per share, which will be paid on September 23rd, representing an annual yield of 1.87%.

Lyell Wealth Management LP increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 30.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,271 shares of the asset manager's stock after buying an additional 1,702 shares during the period. Lyell Wealth Management LP's holdings in BlackRock were worth $6,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after purchasing an additional 93,844 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. FMR LLC boosted its holdings in shares of BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after acquiring an additional 26,485 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in BlackRock by 18.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after purchasing an additional 329,244 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in BlackRock by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock valued at $1,631,684,000 after purchasing an additional 272,176 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus reiterated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped 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. Morgan Stanley lowered their target price 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. raised 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. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company'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 transaction, the director owned 61,369 shares of the company's stock, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value 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 $296,002,472.28. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Trading Down 1.3%

NYSE BLK traded down $14.72 during trading on Friday, hitting $1,091.29. The company had a trading volume of 672,794 shares, compared to its average volume of 646,030. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a one year low of $773.74 and a one year high of $1,130.66. The company has a market cap of $169.07 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. The company's fifty day moving average is $1,040.67 and its 200-day moving average is $981.66.

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 (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $10.36 EPS. On average, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock's payout ratio is currently 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.