Truvestments Capital LLC Grows Stock Position in BlackRock $BLK

Key Points

• Truvestments Capital LLC significantly increased its holdings in BlackRock by 2,466.7% during the 1st quarter, acquiring an additional 3,034 shares, bringing its total ownership to 3,157 shares valued at approximately $2.988 million.
• Insider trading activity included BlackRock's Director J. Richard Kushel selling 17,142 shares and CEO Laurence Fink selling 12,054 shares, both transactions resulting in a decrease of 21.83% and 4.57% of their respective positions.
• BlackRock's recent earnings report showed an EPS of $12.05, exceeding analyst expectations, with revenue growth of 12.9% year-over-year, and the company announced a quarterly dividend of $5.21 per share.

Truvestments Capital LLC grew its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 2,466.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,157 shares of the asset manager's stock after purchasing an additional 3,034 shares during the period. Truvestments Capital LLC's holdings in BlackRock were worth $2,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the 4th quarter valued at $30,000. Fairway Wealth LLC lifted its holdings in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in BlackRock in the 1st quarter worth $31,000. Cheviot Value Management LLC purchased a new position in BlackRock in the 1st quarter worth $30,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in BlackRock in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock Price Performance

BLK stock traded down $2.03 during trading on Friday, hitting $1,128.45. The stock had a trading volume of 356,048 shares, compared to its average volume of 487,929. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The stock has a market capitalization of $174.74 billion, a P/E ratio of 27.28, a PEG ratio of 2.16 and a beta of 1.42. The company's 50-day moving average price is $1,101.81 and its two-hundred day moving average price is $997.48.

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, topping 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 business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $10.36 EPS. The business's revenue was up 12.9% on a year-over-year basis. As a group, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

BlackRock Profile

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.