BlackRock $BLK Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its holdings in BlackRock by 12.4% in Q2, now owning 3,416 shares valued at approximately $3.58 million.
• BlackRock reported earnings of $12.05 per share for the last quarter, exceeding estimates, with a revenue of $5.42 billion, up 12.9% year-over-year.
• BlackRock declared a quarterly dividend of $5.21 per share, representing a 1.9% dividend yield and a payout ratio of 50.39%.

Thurston Springer Miller Herd & Titak Inc. boosted its position in BlackRock (NYSE:BLK - Free Report) by 12.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,416 shares of the asset manager's stock after purchasing an additional 377 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in BlackRock were worth $3,584,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after acquiring an additional 387,466 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. Royal Bank of Canada grew its stake in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in BlackRock by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager's stock valued at $1,142,340,000 after buying an additional 111,694 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after acquiring an additional 279,336 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Up 0.1%

BlackRock stock traded up $1.12 during midday trading on Friday, reaching $1,138.25. 244,914 shares of the stock traded hands, compared to its average volume of 724,901. The company has a 50-day simple moving average of $1,119.02 and a two-hundred day simple moving average of $1,011.55. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The firm has a market cap of $176.26 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating 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 company had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period last year, the business posted $10.36 EPS. BlackRock's revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts expect 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. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Buying and Selling

In other news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated 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 in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer owned 263,751 shares of the company's stock, valued at $296,002,472.28. The trade was a 5.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company reduced their target price on 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. Jefferies Financial Group upped their target price on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. UBS Group reaffirmed a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Argus reaffirmed a "buy" 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 given a Hold rating to the company's stock. According to MarketBeat, the stock has an average 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.