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Shell Asset Management Co. Purchases 677 Shares of BlackRock $BLK

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Key Points

  • Shell Asset Management Co. increased its stake in BlackRock by 50.1%, acquiring 677 additional shares during the second quarter, bringing its total holdings to 2,027 shares valued at $2,127,000.
  • BlackRock recently reported earnings of $12.05 per share for the quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 12.9%.
  • The company announced a quarterly dividend of $5.21 per share, resulting in an annualized dividend yield of 1.8% and a payout ratio of 50.39%.
  • MarketBeat previews top five stocks to own in November.

Shell Asset Management Co. raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 50.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,027 shares of the asset manager's stock after acquiring an additional 677 shares during the period. Shell Asset Management Co.'s holdings in BlackRock were worth $2,127,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Garde Capital Inc. boosted its holdings in shares of 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 acquiring an additional 18 shares during the period. Fairway Wealth LLC raised 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 buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 15 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $31,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of BlackRock in the first quarter valued at approximately $30,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.2%

Shares of BLK opened at $1,163.72 on Thursday. BlackRock has a one year low of $773.74 and a one year high of $1,184.13. The company has a market cap of $180.21 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a 50 day simple moving average of $1,132.82 and a two-hundred day simple moving average of $1,032.16.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results 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. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company's revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.36 earnings per share. Research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction 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 sale, the director owned 19,205 shares of the company's stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BLK. Argus reiterated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. The Goldman Sachs Group lifted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, UBS Group reiterated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus price target of $1,254.47.

Get Our Latest Stock Report on BlackRock

BlackRock Profile

(Free Report)

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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Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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