BlackRock, Inc. (NYSE:BLK) Shares Acquired by Lokken Investment Group LLC

Lokken Investment Group LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,511 shares of the asset manager’s stock after purchasing an additional 148 shares during the quarter. Lokken Investment Group LLC’s holdings in BlackRock were worth $1,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BLK. XML Financial LLC increased its holdings in BlackRock by 2.6% in the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 13 shares during the period. Forza Wealth Management LLC grew its position in BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after purchasing an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 13 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Laurence Fink sold 29,450 shares of the 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last three months. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Up 1.1 %

Shares of NYSE:BLK opened at $904.83 on Wednesday. The company’s 50-day moving average price is $862.13 and its two-hundred day moving average price is $815.73. BlackRock, Inc. has a one year low of $596.18 and a one year high of $908.88. 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 stock has a market capitalization of $134.46 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $9.28 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

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 issued a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.25%. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLK. UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Morgan Stanley dropped 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. Finally, Barclays upped their target price on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

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.