J. W. Coons Advisors LLC Acquires 168 Shares of BlackRock, Inc. (NYSE:BLK)

J. W. Coons Advisors LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,483 shares of the asset manager’s stock after acquiring an additional 168 shares during the period. BlackRock accounts for 0.9% of J. W. Coons Advisors LLC’s holdings, making the stock its 28th biggest position. J. W. Coons Advisors LLC’s holdings in BlackRock were worth $3,530,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Carolinas Wealth Consulting LLC lifted its stake 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 buying an additional 40 shares during the last quarter. Zhang Financial LLC boosted its holdings in shares of BlackRock by 24.0% during the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after acquiring an additional 171 shares during the period. California State Teachers Retirement System grew its position 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 purchasing an additional 1,647 shares during the last quarter. Farrow Financial Inc. bought a new position in shares of BlackRock during the fourth quarter worth approximately $2,228,000. Finally, Axxcess Wealth Management LLC lifted its holdings in BlackRock by 35.8% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on BLK shares. Barclays initiated coverage on BlackRock in a report on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 price objective on the stock. TD Cowen lowered their price target 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. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” 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 stock a “buy” rating in a report on Tuesday, July 16th. Finally, UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $881.47.

BlackRock Stock Up 0.8 %

Shares of NYSE BLK opened at $901.81 on Friday. The company has a market cap of $133.59 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.97 and a beta of 1.32. 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 12 month low of $596.18 and a 12 month high of $903.46. The stock has a 50-day moving average price of $839.20 and a two-hundred day moving average price of $808.74.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $9.28 EPS. As a group, analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a dividend of $5.10 per share. 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 2.26%. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

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.