BlackRock, Inc. (NYSE:BLK) Stock Position Increased by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,089 shares of the asset manager’s stock after buying an additional 41 shares during the period. Dana Investment Advisors Inc.’s holdings in BlackRock were worth $2,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the 1st quarter valued at about $27,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the fourth quarter valued at approximately $28,000. Fairscale Capital LLC bought a new stake in BlackRock during the second quarter worth approximately $31,000. Lam Group Inc. acquired a new position in BlackRock in the first quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock in the fourth quarter valued at $35,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLK. UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. 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. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company began coverage on shares of BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target for the company. Finally, Barclays increased their target price on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $908.60.

BlackRock Price Performance

NYSE BLK opened at $957.25 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $142.25 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $957.28. The company has a 50 day moving average price of $885.85 and a two-hundred day moving average price of $824.58.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the company posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 41.37 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

BlackRock 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.