J.W. Cole Advisors Inc. Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

J.W. Cole Advisors Inc. boosted its holdings in BlackRock, Inc. (NYSE:BLKGet Rating) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 590 shares of the asset manager’s stock after buying an additional 53 shares during the period. J.W. Cole Advisors Inc.’s holdings in BlackRock were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in BlackRock in the 4th quarter valued at $1,230,851,000. Aaron Wealth Advisors LLC boosted its holdings in BlackRock by 79,395.4% in the 1st 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 period. Charles Schwab Investment Management Inc. boosted its holdings in BlackRock by 15.4% in the 1st 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 period. Capital International Investors boosted its holdings in BlackRock by 9.0% in the 1st 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 period. Finally, Vanguard Group Inc. boosted its holdings in BlackRock by 2.2% in the 1st 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 period. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. The Goldman Sachs Group dropped their price objective on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Morgan Stanley dropped their price objective on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. UBS Group dropped their price objective on shares of BlackRock from $825.00 to $718.00 in a report on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $804.46.

BlackRock Price Performance

BLK stock opened at $634.73 on Tuesday. The firm’s 50-day moving average price is $670.71 and its two-hundred day moving average price is $667.50. BlackRock, Inc. has a 12-month low of $575.60 and a 12-month high of $973.16. The stock has a market capitalization of $95.70 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 3.28 and a beta of 1.23. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLKGet Rating) last released 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). BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the firm posted $10.03 EPS. BlackRock’s revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 33.92 earnings per share for the current year.

BlackRock Increases Dividend

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

Insider Activity at BlackRock

In related news, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 44,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 563,771 shares in the company, valued at approximately $385,963,264.31. The disclosure for this sale can be found here. Insiders have sold 83,448 shares of company stock worth $55,259,953 over the last 90 days. 1.06% of the stock is owned by company insiders.

BlackRock Company 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.