Victory Capital Management Inc. Raises Stake in BlackRock, Inc. (NYSE:BLK)

Victory Capital Management Inc. boosted its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,451 shares of the asset manager’s stock after buying an additional 3,063 shares during the quarter. Victory Capital Management Inc.’s holdings in BlackRock were worth $32,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Steward Financial Group LLC bought a new stake in BlackRock in the fourth quarter valued at approximately $27,000. Western Pacific Wealth Management LP bought a new stake in BlackRock in the fourth quarter valued at approximately $27,000. Sierra Capital LLC bought a new stake in BlackRock in the fourth quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. bought a new stake in BlackRock in the fourth quarter valued at approximately $29,000. Finally, Confluence Wealth Services Inc. bought a new stake in BlackRock in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

BlackRock Price Performance

BLK opened at $666.16 on Wednesday. The stock has a fifty day simple moving average of $630.65 and a two-hundred day simple moving average of $689.69. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39. The company has a market cap of $100.92 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 3.51 and a beta of 1.25. BlackRock, Inc. has a 12-month low of $575.60 and a 12-month high of $973.16.

BlackRock (NYSE:BLKGet Rating) last released its earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.72% and a net margin of 30.12%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the company posted $10.03 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. Research analysts predict that BlackRock, Inc. will post 33.92 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be paid a $4.88 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.93%. BlackRock’s dividend payout ratio is currently 51.46%.

Insider Transactions at BlackRock

In other news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup lowered their price objective on BlackRock from $1,035.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. JPMorgan Chase & Co. decreased their target price on BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Keefe, Bruyette & Woods decreased their target price on BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft decreased their target price on BlackRock from $747.00 to $725.00 in a report on Wednesday, July 13th. Finally, UBS Group decreased their target price on BlackRock from $825.00 to $718.00 in a report on Monday, July 11th. Five research 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 a consensus rating of “Moderate Buy” and a consensus price target of $794.08.

BlackRock Company 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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