Teamwork Financial Advisors LLC Increases Position in BlackRock, Inc. (NYSE:BLK)

Teamwork Financial Advisors LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 196.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,637 shares of the asset manager’s stock after purchasing an additional 1,746 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in BlackRock were worth $2,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Emerald Advisors LLC grew its holdings in shares of BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after buying an additional 40 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in shares of BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in BlackRock during the fourth quarter valued at approximately $439,000. Finally, Patten & Patten Inc. TN bought a new position in BlackRock during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BLK has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley increased their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $915.00 price objective on shares of BlackRock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $844.17.

BlackRock Price Performance

Shares of NYSE BLK traded down $0.01 during midday trading on Thursday, reaching $789.12. The stock had a trading volume of 250,799 shares, compared to its average volume of 506,332. The stock has a 50-day moving average of $780.75 and a 200-day moving average of $792.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market capitalization of $117.26 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.93 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. BlackRock’s dividend payout ratio (DPR) 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.