RB Capital Management LLC Has $1.91 Million Position in BlackRock $BLK

Key Points

• RB Capital Management LLC increased its stake in BlackRock by 66.5%, owning 1,816 shares valued at approximately $1.91 million as of the most recent reporting period.
• BlackRock's Director Rachel Lord and CEO Laurence Fink sold significant amounts of shares, with Lord selling 18,036 shares for over $20 million and Fink selling 14,828 shares for around $16.6 million.
• The company recently announced a quarterly dividend of $5.21 per share, translating to an annualized yield of 1.9%, with a dividend payout ratio of 50.39%.

RB Capital Management LLC lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 66.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,816 shares of the asset manager's stock after acquiring an additional 725 shares during the period. RB Capital Management LLC's holdings in BlackRock were worth $1,906,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Garde Capital Inc. raised its holdings in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after buying an additional 18 shares during the last quarter. McLean Asset Management Corp raised its holdings in BlackRock by 3.9% during the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager's stock worth $285,000 after buying an additional 10 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in BlackRock during the second quarter worth $223,000. Michael S. Ryan Inc. raised its holdings in BlackRock by 3.2% during the second quarter. Michael S. Ryan Inc. now owns 520 shares of the asset manager's stock worth $546,000 after buying an additional 16 shares during the last quarter. Finally, Norway Savings Bank raised its holdings in BlackRock by 8.5% during the second quarter. Norway Savings Bank now owns 2,622 shares of the asset manager's stock worth $2,751,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were 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 directly 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. Insiders sold 66,494 shares of company stock valued at $74,694,573 over the last quarter. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,124.34 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $174.10 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The firm's 50-day simple moving average is $1,115.88 and its two-hundred day simple moving average is $1,007.38.

BlackRock (NYSE:BLK - Get Free Report) last released 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm earned $10.36 EPS. The company's revenue was up 12.9% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BLK. Jefferies Financial Group upped their price objective on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Evercore ISI upped their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,154.07.

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.

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