Fairscale Capital LLC Buys Shares of 37 BlackRock, Inc. (NYSE:BLK)

Fairscale Capital LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the second quarter, HoldingsChannel reports. The institutional investor purchased 37 shares of the asset manager’s stock, valued at approximately $31,000.

Several other hedge funds also recently modified their holdings of BLK. Carolinas Wealth Consulting LLC raised its stake in BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after buying an additional 1,647 shares during the period. Axxcess Wealth Management LLC grew its position 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 buying an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC increased its stake in BlackRock by 97.1% during the fourth quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after acquiring an additional 56,357 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in BlackRock by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $928.79 on Monday. The firm has a 50 day moving average of $868.55 and a 200-day moving average of $817.80. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $942.73. The stock has a market capitalization of $138.02 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share 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 company 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 firm posted $9.28 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

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 issued a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.20%. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock 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 sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 $298,272,703.50. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 in the last quarter. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on BLK shares. Barclays boosted their price objective on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Citigroup raised their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

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.