BlackRock, Inc. (NYSE:BLK) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 20.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,715 shares of the asset manager’s stock after purchasing an additional 11,072 shares during the quarter. NewEdge Advisors LLC’s holdings in BlackRock were worth $50,951,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. XML Financial LLC raised its stake in BlackRock by 2.6% in the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after buying an additional 12 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of BlackRock by 6.1% in the 2nd 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 last quarter. Forza Wealth Management LLC raised its position in shares of BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after acquiring an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake 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 purchasing an additional 13 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in BlackRock by 17.1% in 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 in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BLK shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Evercore ISI upped their price objective 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. Morgan Stanley cut their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Citigroup upped their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Stock Performance

Shares of BLK opened at $945.21 on Friday. The stock has a market capitalization of $140.46 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.05 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. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $952.75. The company’s fifty day moving average is $879.35 and its two-hundred day moving average is $821.77.

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. 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. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

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.