Brookstone Capital Management Has $1.20 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Brookstone Capital Management decreased its holdings in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 19.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,935 shares of the asset manager’s stock after selling 470 shares during the period. Brookstone Capital Management’s holdings in BlackRock were worth $1,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Western Pacific Wealth Management LP purchased a new stake in shares of BlackRock in the fourth quarter valued at about $27,000. McIlrath & Eck LLC raised its holdings in shares of BlackRock by 67.9% in the first quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 19 shares during the last quarter. Disciplined Investments LLC raised its holdings in shares of BlackRock by 45.5% in the first quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 15 shares during the last quarter. Citizens National Bank Trust Department purchased a new stake in shares of BlackRock in the fourth quarter valued at about $46,000. Finally, Mystic Asset Management Inc. purchased a new stake in shares of BlackRock in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 76.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on BLK shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a report on Friday, August 12th. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Morgan Stanley decreased 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. JPMorgan Chase & Co. cut their target price on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, The Goldman Sachs Group cut their target price on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $804.46.

Insiders Place Their Bets

In related news, Director Mark Mccombe sold 1,360 shares of BlackRock stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Robert Kapito sold 37,588 shares of BlackRock stock in a transaction on 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 transaction, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Mccombe sold 1,360 shares of BlackRock 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 sale, the director now owns 21,106 shares in the company, valued at approximately $15,614,007.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,448 shares of company stock valued at $55,259,953. 1.06% of the stock is currently owned by corporate insiders.

BlackRock Trading Down 2.3 %

BLK stock opened at $608.09 on Thursday. The company has a market capitalization of $91.68 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 3.33 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’s 50 day moving average price is $671.92 and its two-hundred day moving average price is $666.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.64 and a current ratio of 3.64.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 EPS for the quarter, missing the consensus estimate of $7.94 by ($0.58). The business had revenue of $4.53 billion for 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 company’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $10.03 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 33.92 earnings per share for the current fiscal year.

BlackRock Increases Dividend

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

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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