US Bancorp DE Has $204.02 Million Stake in BlackRock (NYSE:BLK)

Key Points

• US Bancorp DE increased its stake in BlackRock by 1.2% in the first quarter, owning 215,556 shares valued at approximately $204 million.
• BlackRock's latest earnings report showed earnings per share of $12.05, surpassing estimates, and a 12.9% year-over-year revenue increase.
• The company announced a quarterly dividend of $5.21, contributing to an annualized yield of 1.9% for shareholders, with a payout ratio of 50.39%.

US Bancorp DE lifted its stake in BlackRock (NYSE:BLK - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 215,556 shares of the asset manager's stock after acquiring an additional 2,613 shares during the period. US Bancorp DE owned 0.14% of BlackRock worth $204,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nicolet Advisory Services LLC grew its holdings in BlackRock by 2.5% during the first quarter. Nicolet Advisory Services LLC now owns 1,051 shares of the asset manager's stock valued at $995,000 after purchasing an additional 26 shares during the last quarter. Pasadena Private Wealth LLC bought a new stake in shares of BlackRock during the 1st quarter worth $240,000. Harbour Investments Inc. grew its stake in BlackRock by 11.8% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the asset manager's stock valued at $656,000 after buying an additional 73 shares during the last quarter. Brentview Investment Management LLC raised its holdings in BlackRock by 6.9% in the 1st quarter. Brentview Investment Management LLC now owns 3,772 shares of the asset manager's stock worth $3,571,000 after acquiring an additional 243 shares during the period. Finally, Lyell Wealth Management LP lifted its position in BlackRock by 30.6% during the 1st quarter. Lyell Wealth Management LP now owns 7,271 shares of the asset manager's stock worth $6,882,000 after acquiring an additional 1,702 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BLK. Wells Fargo & Company lowered their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Finally, UBS Group restated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

BlackRock Stock Down 0.9%

BLK opened at $1,105.15 on Friday. The company has a market capitalization of $171.22 billion, a P/E ratio of 26.72, a P/E/G ratio of 2.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The firm's fifty day moving average price is $1,038.13 and its two-hundred day moving average price is $980.77. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $10.36 EPS. The firm's revenue was up 12.9% on a year-over-year basis. On average, analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock's dividend payout ratio is presently 50.39%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the stock in a transaction 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 represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on 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 transaction, the director directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 49,352 shares of company stock valued at $55,486,962. Corporate insiders own 1.98% of the company's stock.

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.

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