Lokken Investment Group LLC Has $1.19 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Lokken Investment Group LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 10.9% during the second quarter, HoldingsChannel reports. The fund owned 1,511 shares of the asset manager’s stock after purchasing an additional 148 shares during the quarter. Lokken Investment Group LLC’s holdings in BlackRock were worth $1,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Waterloo Capital L.P. lifted its stake in shares of BlackRock by 6.0% in the 2nd quarter. Waterloo Capital L.P. now owns 765 shares of the asset manager’s stock valued at $602,000 after purchasing an additional 43 shares during the period. Blair William & Co. IL grew its holdings in shares of BlackRock by 12.0% during the second quarter. Blair William & Co. IL now owns 53,332 shares of the asset manager’s stock valued at $41,989,000 after buying an additional 5,730 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of BlackRock by 13.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,126 shares of the asset manager’s stock worth $10,225,000 after purchasing an additional 1,521 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in BlackRock by 3.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,096 shares of the asset manager’s stock valued at $10,311,000 after buying an additional 483 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of BlackRock by 6.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 16,108 shares of the asset manager’s stock valued at $12,682,000 after purchasing an additional 1,019 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. 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 over the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 1.1 %

BLK opened at $904.83 on Wednesday. The firm has a market capitalization of $134.46 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a one year low of $596.18 and a one year high of $908.88. The business has a 50 day simple moving average of $862.13 and a two-hundred day simple moving average of $815.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $9.28 earnings per share. Analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared 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. This represents a $20.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLK. Keefe, Bruyette & Woods boosted their price target on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Argus boosted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley decreased their price objective on shares of 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. Finally, UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

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.