Rogco LP Invests $2.17 Million in BlackRock (NYSE:BLK)

Rogco LP acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,295 shares of the asset manager's stock, valued at approximately $2,172,000. BlackRock comprises about 0.9% of Rogco LP's investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Vanguard Group Inc. boosted its stake in shares of BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after purchasing an additional 68,405 shares during the period. Capital World Investors raised its position in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock worth $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after buying an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock valued at $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. Finally, FMR LLC raised its stake in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $14.95 during midday trading on Thursday, hitting $1,103.70. The stock had a trading volume of 467,479 shares, compared to its average volume of 694,080. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $989.46 and a two-hundred day moving average price of $970.84. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,107.19. The company has a market capitalization of $171.00 billion, a PE ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the firm posted $9.81 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reissued an "overweight" rating on shares of BlackRock in a report on Tuesday. Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday. Finally, 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,132.29.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

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.