Vision Capital Management Inc. Acquires New Stake in BlackRock $BLK

Key Points

• Vision Capital Management Inc. acquired a new stake in BlackRock, purchasing 298 shares valued at approximately $313,000 in the second quarter.
• BlackRock reported a quarterly earnings per share (EPS) of $12.05, exceeding expectations and showing a 12.9% increase in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $5.21, reflecting an annual yield of 1.8% and a payout ratio of 50.39%.

Vision Capital Management Inc. acquired a new position in shares of BlackRock (NYSE:BLK - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 298 shares of the asset manager's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Destiny Wealth Partners LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth about $531,000. ST Germain D J Co. Inc. raised its position in shares of BlackRock by 10.9% in the second quarter. ST Germain D J Co. Inc. now owns 24,772 shares of the asset manager's stock valued at $25,992,000 after buying an additional 2,435 shares during the last quarter. Novem Group lifted its stake in shares of BlackRock by 5.6% during the second quarter. Novem Group now owns 455 shares of the asset manager's stock valued at $477,000 after buying an additional 24 shares during the period. Embree Financial Group boosted its position in BlackRock by 0.3% during the second quarter. Embree Financial Group now owns 5,188 shares of the asset manager's stock worth $5,443,000 after acquiring an additional 17 shares during the last quarter. Finally, Patron Partners LLC boosted its position in BlackRock by 1.7% during the second quarter. Patron Partners LLC now owns 647 shares of the asset manager's stock worth $678,000 after acquiring an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

NYSE BLK opened at $1,146.33 on Friday. 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 1-year low of $773.74 and a 1-year high of $1,171.89. The firm has a market capitalization of $177.51 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.16 and a beta of 1.45. The business's 50-day simple moving average is $1,123.70 and its 200-day simple moving average is $1,018.07.

BlackRock (NYSE:BLK - Get Free Report) last posted 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 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm posted $10.36 earnings per share. BlackRock's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts have weighed in on BLK shares. UBS Group reiterated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Evercore ISI upped their target price on BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Argus reaffirmed 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 assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,154.07.

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.

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