Vanguard Group Inc. Grows Holdings in BlackRock (NYSE:BLK)

Key Points

• Vanguard Group Inc. increased its holdings in BlackRock by 2.9%, owning approximately 8.87% of the company's shares, valued at around $13 billion as of the last reporting period.
• Several institutional investors have recently made moves regarding BlackRock's shares, with hedge funds and other institutions collectively owning 80.69% of the company's stock.
• BlackRock's latest quarterly report indicated an earnings per share (EPS) of $12.05, exceeding estimates, along with a declared quarterly dividend of $5.21 due for payment on September 23rd.

Vanguard Group Inc. increased its position in shares of BlackRock (NYSE:BLK - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,764,072 shares of the asset manager's stock after buying an additional 387,466 shares during the period. Vanguard Group Inc. owned about 8.87% of BlackRock worth $13,027,419,000 at the end of the most recent reporting period.

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

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on BLK shares. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley lowered their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Citigroup dropped their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays lifted their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Trading Down 0.6%

Shares of NYSE:BLK opened at $1,109.83 on Wednesday. The company has a market cap of $171.95 billion, a PE ratio of 26.83, a P/E/G ratio of 2.25 and a beta of 1.42. The company's 50-day moving average price is $1,046.27 and its 200 day moving average price is $983.01. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business earned $10.36 earnings per share. BlackRock's revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

BlackRock Company 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.

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