Woodline Partners LP Has $11.64 Million Holdings in BlackRock $BLK

Key Points

• Woodline Partners LP increased its stake in BlackRock by 40.7%, acquiring an additional 3,557 shares, bringing its total holdings to 12,300 shares valued at approximately $11.64 million.
• BlackRock reported a quarterly earnings per share of $12.05, exceeding analyst estimates by $1.64, with revenues rising 12.9% compared to the same quarter last year.
• The firm declared a quarterly dividend of $5.21 per share, with an annualized yield of 1.8%, set to be paid on September 23rd.

Woodline Partners LP lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,300 shares of the asset manager's stock after buying an additional 3,557 shares during the period. Woodline Partners LP's holdings in BlackRock were worth $11,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Investment Management Corp VA ADV bought a new stake in BlackRock during the 4th quarter valued at $30,000. Fairway Wealth LLC increased its position 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 shares of BlackRock during the first quarter worth approximately $31,000. Cheviot Value Management LLC purchased a new position in shares of BlackRock in the first quarter worth about $30,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in BlackRock in the first quarter valued at approximately $34,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction on 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 sale, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by corporate insiders.

BlackRock Trading Up 0.4%

Shares of NYSE:BLK traded up $4.12 during mid-day trading on Tuesday, reaching $1,119.23. The stock had a trading volume of 246,574 shares, compared to its average volume of 728,269. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The firm has a market cap of $173.31 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $1,116.63 and a two-hundred day simple moving average of $1,008.76.

BlackRock (NYSE:BLK - Get Free Report) last announced 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 firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $10.36 EPS. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business 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. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Barclays boosted their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,154.07.

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.