Tsfg LLC Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Tsfg LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 21.1% during the second quarter, Holdings Channel.com reports. The fund owned 86 shares of the asset manager’s stock after acquiring an additional 15 shares during the quarter. Tsfg LLC’s holdings in BlackRock were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares during the last quarter. Capital Research Global Investors raised its position in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Capital World Investors raised its position in shares of BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the last quarter. Capital International Investors raised its position in shares of BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after buying an additional 58,681 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $1,812,920,000. 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 stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value 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 approximately $309,327,694.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated 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 owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders have sold a total of 88,959 shares of company stock worth $73,660,507 over the last quarter. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen reduced their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Evercore ISI raised their target price on shares of BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Citigroup raised their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $872.29.

BlackRock Stock Up 0.3 %

Shares of BLK stock traded up $2.93 on Wednesday, hitting $857.52. The stock had a trading volume of 321,362 shares, compared to its average volume of 603,645. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $812.97 and a 200 day moving average price of $800.72. The company has a market cap of $127.43 billion, a PE ratio of 21.79, a P/E/G ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $9.28 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.38%. BlackRock’s dividend payout ratio is currently 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.