National Pension Service Buys 14,027 Shares of BlackRock (NYSE:BLK)

Key Points

• The National Pension Service increased its stake in BlackRock by 4.5%, owning 328,234 shares valued at approximately $310.67 million as of the last quarter.
• Analysts have mixed ratings for BlackRock, with a majority giving it a "buy" rating, and an average price target of $1,151.21.
• BlackRock recently reported earnings of $12.05 per share, exceeding estimates and showing a revenue increase of 12.9% year-over-year, alongside announcing a quarterly dividend of $5.21.

National Pension Service grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 328,234 shares of the asset manager's stock after buying an additional 14,027 shares during the quarter. National Pension Service owned 0.21% of BlackRock worth $310,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of BlackRock in the 4th quarter worth approximately $30,000. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $31,000. Cheviot Value Management LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $30,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $34,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 0.1%

Shares of NYSE:BLK traded up $1.55 during midday trading on Thursday, hitting $1,161.58. 407,611 shares of the stock traded hands, compared to its average volume of 559,212. The stock has a market capitalization of $179.96 billion, a PE ratio of 28.08, a P/E/G ratio of 2.33 and a beta of 1.42. The business's 50 day moving average is $1,068.47 and its two-hundred day moving average is $989.19. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a one year low of $773.74 and a one year high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating 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 business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $10.36 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. UBS Group reaffirmed a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a report on Saturday, May 24th. Barclays lifted their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction dated 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 directly owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,494 shares of company stock worth $74,694,573. Company insiders own 1.98% of the company's stock.

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.