Chicago Capital LLC Acquires 106 Shares of BlackRock, Inc. (NYSE:BLK)

Chicago Capital LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443 shares of the asset manager’s stock after purchasing an additional 106 shares during the quarter. Chicago Capital LLC’s holdings in BlackRock were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Carolinas Wealth Consulting LLC lifted its position in shares of BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after buying an additional 40 shares during the last quarter. Zhang Financial LLC lifted its holdings in BlackRock by 24.0% in the 1st 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 last quarter. California State Teachers Retirement System boosted its position 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. Farrow Financial Inc. acquired a new position in BlackRock during the fourth quarter valued at approximately $2,228,000. Finally, Axxcess Wealth Management LLC raised its position in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of BlackRock in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 target price on the stock. Evercore ISI raised their price target on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen cut their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Citigroup raised their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, 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 report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.13.

BlackRock Trading Down 1.1 %

Shares of BLK stock opened at $866.92 on Friday. The firm has a fifty day moving average of $848.57 and a 200-day moving average of $811.87. The stock has a market cap of $128.82 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.97 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $903.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

Insiders Place Their Bets

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale 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 27,000 shares of the firm’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 completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

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.