BlackRock, Inc. (NYSE:BLK) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 6,300.0% during the 2nd quarter, Holdings Channel reports. The fund owned 576 shares of the asset manager’s stock after acquiring an additional 567 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in BlackRock were worth $453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC raised its position in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares in the last quarter. California State Teachers Retirement System increased its stake in 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 purchasing an additional 1,647 shares during the last quarter. Axxcess Wealth Management LLC raised 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 in the last quarter. Morningstar Investment Services LLC lifted its position in shares of BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after buying an additional 56,357 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of 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 buying an additional 14,477 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BLK shares. TD Cowen reduced 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. Citigroup boosted 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. UBS Group dropped their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Barclays boosted their price objective on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

Insiders Place Their Bets

In other BlackRock 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 transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of BlackRock 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’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 completion of the sale, 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. Over the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Up 0.4 %

Shares of BlackRock stock opened at $941.23 on Wednesday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $942.73. The company has a market cap of $139.87 billion, a P/E ratio of 23.92, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a fifty day moving average of $872.80 and a two-hundred day moving average of $819.29.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating 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 the consensus estimate of $4.85 billion. During the same quarter last year, the firm earned $9.28 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

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.