Private Advisor Group LLC Acquires 1,709 Shares of BlackRock, Inc. (NYSE:BLK)

Private Advisor Group LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,009 shares of the asset manager’s stock after acquiring an additional 1,709 shares during the quarter. Private Advisor Group LLC’s holdings in BlackRock were worth $8,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLK. Norges Bank acquired a new position in BlackRock during the fourth quarter valued at approximately $1,230,851,000. Aaron Wealth Advisors LLC grew its holdings in BlackRock by 79,395.4% during the first quarter. Aaron Wealth Advisors LLC now owns 670,941 shares of the asset manager’s stock valued at $878,000 after purchasing an additional 670,097 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in BlackRock by 15.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock valued at $1,777,933,000 after purchasing an additional 310,256 shares during the last quarter. Capital International Investors grew its holdings in BlackRock by 9.0% during the first quarter. Capital International Investors now owns 3,582,460 shares of the asset manager’s stock valued at $2,737,701,000 after purchasing an additional 294,408 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in BlackRock by 2.2% during the first quarter. Vanguard Group Inc. now owns 12,511,310 shares of the asset manager’s stock valued at $9,560,768,000 after purchasing an additional 275,176 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. The Goldman Sachs Group lowered their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Finally, UBS Group lowered their price objective on shares of BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $804.46.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 44,500 shares of BlackRock 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Robert Kapito sold 37,588 shares of BlackRock stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,448 shares of company stock valued at $55,259,953. 1.06% of the stock is currently owned by company insiders.

BlackRock Stock Down 1.2 %

BLK opened at $600.50 on Friday. The company has a market capitalization of $90.54 billion, a P/E ratio of 15.83, a P/E/G ratio of 3.26 and a beta of 1.23. The firm’s fifty day moving average price is $672.16 and its two-hundred day moving average price is $665.81. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week 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.

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

BlackRock Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th were issued a dividend of $4.88 per share. The ex-dividend date was Tuesday, September 6th. This is a boost from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio (DPR) is presently 51.46%.

About BlackRock

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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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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