Stonnington Group LLC Makes New $276,000 Investment in BlackRock, Inc. (NYSE:BLK)

Stonnington Group LLC bought a new position in BlackRock, Inc. (NYSE:BLKGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 442 shares of the asset manager’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.2% in the first quarter. Vanguard Group Inc. now owns 12,511,310 shares of the asset manager’s stock worth $9,560,768,000 after buying an additional 275,176 shares in the last quarter. BlackRock Inc. lifted its stake in shares of BlackRock by 1.4% in the first quarter. BlackRock Inc. now owns 10,279,628 shares of the asset manager’s stock worth $7,855,383,000 after buying an additional 138,542 shares in the last quarter. State Street Corp lifted its stake in shares of BlackRock by 3.0% in the fourth quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock worth $5,986,873,000 after buying an additional 192,641 shares in the last quarter. Capital International Investors lifted its stake in shares of BlackRock by 9.0% in the first quarter. Capital International Investors now owns 3,582,460 shares of the asset manager’s stock worth $2,737,701,000 after buying an additional 294,408 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of BlackRock by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock worth $1,777,933,000 after buying an additional 310,256 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Mark Mccombe sold 1,360 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the completion of the transaction, the director now directly owns 21,106 shares of the company’s stock, valued at $15,614,007.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Mccombe sold 1,360 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the transaction, the director now directly owns 21,106 shares of the company’s stock, valued at $15,614,007.74. The disclosure for this sale can be found here. Insiders sold a total of 83,448 shares of company stock valued at $55,259,953 over the last three months. Corporate insiders own 1.06% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $626.74 on Monday. The firm has a fifty day moving average price of $670.71 and a 200-day moving average price of $667.99. 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 has a market cap of $94.49 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. BlackRock, Inc. has a 1 year low of $575.60 and a 1 year high of $973.16.

BlackRock (NYSE:BLKGet Rating) last announced 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company earned $10.03 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 33.92 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $4.88 dividend. The ex-dividend date is Tuesday, September 6th. This is a boost from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio is 51.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BLK shares. 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 report on Friday, July 8th. UBS Group lowered their price objective on shares of BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. The Goldman Sachs Group lowered their price objective on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $804.46.

BlackRock Profile

(Get Rating)

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

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKGet Rating).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.