Osprey Private Wealth LLC Buys Shares of 6,060 BlackRock $BLK

Key Points

• Osprey Private Wealth LLC acquired 6,060 shares of BlackRock, valued at approximately $6.56 million, making it 3.6% of their investment portfolio.
• CEO Laurence Fink and Director J. Richard Kushel recently sold a combined total of 66,494 shares of BlackRock, with Fink's sale worth over $13.5 million.
• BlackRock reported an increase in revenue of 12.9% year-over-year, with an earnings per share of $12.05 for the last quarter, exceeding analysts' expectations.

Osprey Private Wealth LLC bought a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,060 shares of the asset manager's stock, valued at approximately $6,558,000. BlackRock comprises about 3.6% of Osprey Private Wealth LLC's investment portfolio, making the stock its 9th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. bought a new stake in BlackRock during the first quarter valued at $7,331,000. Prudent Man Advisors LLC bought a new stake in BlackRock during the first quarter valued at $2,018,000. Allianz SE increased its stake in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock valued at $10,435,000 after purchasing an additional 277 shares during the last quarter. Arizona State Retirement System bought a new stake in BlackRock during the first quarter valued at $40,868,000. Finally, Community Financial Services Group LLC increased its stake in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock valued at $5,397,000 after purchasing an additional 836 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the company'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 sale, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. Insiders own 1.98% of the company's stock.

BlackRock Stock Performance

Shares of BLK opened at $1,124.34 on Friday. The firm has a 50-day moving average price of $1,115.88 and a 200 day moving average price of $1,007.38. The firm has a market capitalization of $174.10 billion, a PE ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45. 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 52-week low of $773.74 and a 52-week 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 (EPS) for the quarter, beating 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 net margin of 29.68% and a return on equity of 15.53%. BlackRock's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.36 EPS. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America upped 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 report on Wednesday, July 16th. Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Morgan Stanley lowered their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped 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 report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,154.07.

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.

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