BlackRock, Inc. (NYSE:BLK) Shares Purchased by CVA Family Office LLC

CVA Family Office LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 82.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182 shares of the asset manager’s stock after purchasing an additional 82 shares during the quarter. CVA Family Office LLC’s holdings in BlackRock were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Steward Financial Group LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $31,000. Tyler Stone Wealth Management lifted its stake in BlackRock by 71.4% in the fourth quarter. Tyler Stone Wealth Management now owns 48 shares of the asset manager’s stock valued at $34,000 after buying an additional 20 shares during the last quarter. Centerpoint Advisors LLC purchased a new stake in BlackRock in the first quarter valued at approximately $34,000. Sittner & Nelson LLC lifted its stake in BlackRock by 48.6% in the first quarter. Sittner & Nelson LLC now owns 52 shares of the asset manager’s stock valued at $35,000 after buying an additional 17 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new stake in BlackRock in the first quarter valued at approximately $38,000. 77.01% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 1.3 %

NYSE:BLK opened at $697.41 on Friday. The stock has a fifty day moving average price of $706.29 and a two-hundred day moving average price of $681.21. The stock has a market capitalization of $104.12 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.21 and a current ratio of 4.21. BlackRock, Inc. has a 1 year low of $503.12 and a 1 year high of $785.65.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, July 14th. The asset manager reported $9.28 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.76. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. BlackRock had a return on equity of 14.29% and a net margin of 29.90%. BlackRock’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.36 earnings per share. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $5.00 dividend. This represents a $20.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 7th. BlackRock’s dividend payout ratio (DPR) is 58.41%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 20,200 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $742.04, for a total value of $14,989,208.00. Following the sale, the chief executive officer now owns 464,125 shares of the company’s stock, valued at $344,399,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 2,079 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the sale, the director now owns 6,160 shares of the company’s stock, valued at $4,520,331.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 20,200 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total value of $14,989,208.00. Following the sale, the chief executive officer now directly owns 464,125 shares in the company, valued at approximately $344,399,315. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $770.00 to $835.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $780.00 to $785.00 in a research note on Monday, July 17th. Bank of America cut their price target on BlackRock from $928.00 to $921.00 in a research note on Sunday, July 16th. Morgan Stanley upped their price target on BlackRock from $881.00 to $888.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Finally, Citigroup upped their price target on BlackRock from $750.00 to $815.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $767.69.

About BlackRock

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.