New Republic Capital LLC Has $2.03 Million Stock Position in BlackRock (NYSE:BLK)

Key Points

• New Republic Capital LLC increased its holdings in BlackRock by 637.6% in Q1, now owning 2,139 shares valued at approximately $2,025,000.
• Recent insider activities include Fabrizio Freda and Laurence Fink selling shares, reducing their ownership by 55.84% and 5.32% respectively.
• BlackRock announced a quarterly dividend of $5.21 per share, set to be paid on September 23rd, with a yield of 1.85%.

New Republic Capital LLC grew its holdings in BlackRock (NYSE:BLK - Free Report) by 637.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,139 shares of the asset manager's stock after acquiring an additional 1,849 shares during the quarter. BlackRock accounts for 0.9% of New Republic Capital LLC's portfolio, making the stock its 19th largest holding. New Republic Capital LLC's holdings in BlackRock were worth $2,025,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BLK. Fairway Wealth LLC boosted its position in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 13 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the fourth quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the first quarter valued at $31,000. CBIZ Investment Advisory Services LLC acquired a new position in shares of BlackRock in the first quarter valued at $34,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of BlackRock in the fourth quarter valued at $43,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares in the company, valued at $296,002,472.28. The trade was a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated 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 transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,352 shares of company stock worth $55,486,962. Insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BLK. UBS Group restated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Barclays upped their target price on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Bank of America upped their target price on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Jefferies Financial Group increased their price objective on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Finally, Citigroup dropped their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

BlackRock Price Performance

Shares of NYSE:BLK traded down $3.83 during midday trading on Thursday, reaching $1,110.82. The company's stock had a trading volume of 195,395 shares, compared to its average volume of 783,045. The business's fifty day simple moving average is $1,035.42 and its 200-day simple moving average is $979.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market capitalization of $172.10 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.27 and a beta of 1.41. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The company's revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $10.36 earnings per share. As a group, equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 yield of 1.88%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

BlackRock Company 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.