GHP Investment Advisors Inc. Has $3.60 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

GHP Investment Advisors Inc. lifted its stake in BlackRock, Inc. (NYSE:BLK) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,577 shares of the asset manager’s stock after acquiring an additional 228 shares during the quarter. GHP Investment Advisors Inc.’s holdings in BlackRock were worth $3,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. Carolinas Wealth Consulting LLC grew its holdings in BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after purchasing an additional 40 shares during the period. Zhang Financial LLC grew its holdings in BlackRock by 24.0% during the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after purchasing an additional 171 shares during the period. California State Teachers Retirement System grew its holdings in BlackRock by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after purchasing an additional 1,647 shares during the period. Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares during the period. Finally, Morningstar Investment Services LLC grew its holdings in BlackRock by 97.1% during the fourth quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after purchasing an additional 56,357 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company initiated coverage on BlackRock in a report on Thursday. They set an “overweight” rating and a $1,000.00 price objective for the company. Evercore ISI boosted their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Morgan Stanley reduced their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Stock Up 0.1 %

Shares of BLK opened at $885.73 on Friday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $903.46. The company has a market cap of $131.20 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a 50 day simple moving average of $857.98 and a two-hundred day simple moving average of $814.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $9.28 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The company 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 dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.30%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 over the last three months. Corporate insiders own 0.90% of the company’s stock.

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.