Tsfg LLC lifted its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86 shares of the asset manager’s stock after purchasing an additional 15 shares during the quarter. Tsfg LLC’s holdings in BlackRock were worth $68,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock during the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $28,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of BlackRock during the 4th quarter worth approximately $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.
BlackRock Trading Up 0.3 %
Shares of BLK traded up $2.93 during trading hours on Wednesday, hitting $857.52. The stock had a trading volume of 321,362 shares, compared to its average volume of 603,645. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm has a market cap of $127.43 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.92 and a beta of 1.32. The company’s fifty day simple moving average is $812.97 and its 200 day simple moving average is $800.72. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $885.10.
BlackRock Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.
Wall Street Analysts Forecast Growth
BLK has been the subject of a number of analyst reports. Evercore ISI increased their target price on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup upped their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their price target on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Finally, UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $872.29.
Get Our Latest Analysis on BLK
Insider Buying and Selling at BlackRock
In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders have sold 88,959 shares of company stock valued at $73,660,507 over the last three months. 0.90% of the stock is owned by company insiders.
BlackRock Company Profile
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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