Loomis Sayles & Co. L P Purchases 16,072 Shares of BlackRock, Inc. (NYSE:BLK)

Loomis Sayles & Co. L P raised its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 39.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 56,683 shares of the asset manager’s stock after acquiring an additional 16,072 shares during the period. Loomis Sayles & Co. L P’s holdings in BlackRock were worth $43,315,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. lifted its stake in BlackRock by 0.4% in the 4th quarter. Great Valley Advisor Group Inc. now owns 3,649 shares of the asset manager’s stock valued at $3,073,000 after acquiring an additional 15 shares in the last quarter. Phocas Financial Corp. raised its stake in shares of BlackRock by 2.4% during the 4th quarter. Phocas Financial Corp. now owns 650 shares of the asset manager’s stock worth $595,000 after purchasing an additional 15 shares in the last quarter. Disciplined Investments LLC raised its stake in shares of BlackRock by 45.5% during the 1st quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock worth $37,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust raised its stake in shares of BlackRock by 4.3% during the 1st quarter. Grove Bank & Trust now owns 361 shares of the asset manager’s stock worth $276,000 after purchasing an additional 15 shares in the last quarter. Finally, Integrity Financial Corp WA raised its stake in shares of BlackRock by 3.3% during the 1st quarter. Integrity Financial Corp WA now owns 496 shares of the asset manager’s stock worth $379,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $691.92 on Friday. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 3.47 and a beta of 1.23. BlackRock, Inc. has a one year low of $575.60 and a one year high of $973.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64. The stock’s fifty day moving average price is $666.16 and its two-hundred day moving average price is $671.81.

BlackRock (NYSE:BLKGet Rating) last released its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.94 by ($0.58). The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $10.03 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 33.92 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be paid a $4.88 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This is a positive change from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio (DPR) is 51.46%.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. StockNews.com upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Morgan Stanley dropped their price target on BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Keefe, Bruyette & Woods dropped their price target on BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Finally, UBS Group dropped their price target on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and eight have given 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 $804.46.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 44,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the sale, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, Director Mark Mccombe sold 1,360 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the transaction, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total value of $30,465,145.00. Following the completion of the transaction, the chief executive officer now owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The disclosure for this sale can be found here. Insiders have sold 83,448 shares of company stock valued at $55,259,953 over the last ninety days. 1.06% of the stock is owned by corporate insiders.

BlackRock Profile

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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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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