Ransom Advisory Ltd Invests $2.37 Million in BlackRock $BLK

Key Points

• Ransom Advisory Ltd has invested approximately $2.37 million in BlackRock, acquiring 2,508 shares, which now constitute 1.2% of its portfolio.
• BlackRock reported earnings per share of $12.05 for the most recent quarter, exceeding analysts' expectations of $10.41.
• The company announced a quarterly dividend of $5.21, with a dividend yield of 1.9%, payable on September 23rd.

Ransom Advisory Ltd acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,508 shares of the asset manager's stock, valued at approximately $2,374,000. BlackRock accounts for 1.2% of Ransom Advisory Ltd's portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after buying an additional 296 shares in the last quarter. Bison Wealth LLC increased its position in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after acquiring an additional 17 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of BlackRock during the fourth quarter worth approximately $216,000. Janus Henderson Group PLC raised its stake in shares of BlackRock by 17.2% during the fourth quarter. Janus Henderson Group PLC now owns 27,841 shares of the asset manager's stock valued at $28,561,000 after acquiring an additional 4,079 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BlackRock by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,343 shares of the asset manager's stock valued at $14,703,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Price Performance

Shares of BLK opened at $1,106.62 on Wednesday. The company has a 50 day moving average of $1,113.10 and a two-hundred day moving average of $1,003.92. 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 twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a market cap of $171.36 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the firm earned $10.36 EPS. The business's quarterly revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLK. Bank of America increased their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Barclays raised their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Finally, Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,154.07.

Insider Activity at BlackRock

In related 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 in the last quarter. 1.98% of the stock is currently owned by company insiders.

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.

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