BlackRock $BLK Shares Purchased by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp increased its stake in BlackRock by 7.5%, owning 11,028 shares now worth approximately $11.57 million, making it their 20th largest position.
• BlackRock recently declared a quarterly dividend of $5.21, translating to an annualized dividend of $20.84 and a yield of 1.8%.
• The asset manager reported $12.05 EPS for the last quarter, exceeding estimates by $1.64, with revenues of $5.42 billion, a 12.9% increase year-over-year.

Toth Financial Advisory Corp lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,028 shares of the asset manager's stock after acquiring an additional 769 shares during the quarter. BlackRock comprises about 1.3% of Toth Financial Advisory Corp's investment portfolio, making the stock its 20th biggest holding. Toth Financial Advisory Corp's holdings in BlackRock were worth $11,571,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Royal Bank of Canada boosted its holdings in 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 purchasing an additional 555,098 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of BlackRock during the 4th quarter worth about $225,481,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

BlackRock stock traded up $5.63 during midday trading on Friday, hitting $1,142.76. The stock had a trading volume of 1,504,904 shares, compared to its average volume of 499,193. The firm's fifty day moving average is $1,119.82 and its two-hundred day moving average is $1,013.56. The company has a market capitalization of $176.96 billion, a PE ratio of 27.63, a P/E/G ratio of 2.19 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 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 posted 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. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $10.36 earnings per share. On average, research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock's dividend payout ratio is currently 50.39%.

Analysts Set New Price Targets

BLK has been the topic of several research reports. UBS Group reaffirmed a "neutral" rating and set a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Morgan Stanley decreased their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Finally, Bank of America boosted their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,154.07.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated 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 transaction, the director owned 61,369 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company 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.