BlackRock, Inc. (NYSE:BLK) Shares Bought by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. raised its stake in BlackRock, Inc. (NYSE:BLK) by 37.2% in the second quarter, HoldingsChannel.com reports. The fund owned 1,825 shares of the asset manager’s stock after purchasing an additional 495 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in BlackRock were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC lifted its holdings in BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. Zhang Financial LLC lifted its holdings in BlackRock by 24.0% in the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after purchasing an additional 171 shares in the last quarter. California State Teachers Retirement System lifted its holdings in BlackRock by 0.7% in the 4th 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 in the last quarter. Farrow Financial Inc. purchased a new position in shares of BlackRock during the 4th quarter worth about $2,228,000. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 1,248 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’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 directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 1.1 %

NYSE:BLK traded down $9.72 during trading hours on Friday, hitting $866.92. The stock had a trading volume of 748,945 shares, compared to its average volume of 587,817. 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 1-year low of $596.18 and a 1-year high of $903.46. The business has a 50 day simple moving average of $848.57 and a two-hundred day simple moving average of $811.77. The company has a market cap of $128.82 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $9.28 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. 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. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is currently 51.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays assumed coverage on shares of BlackRock in a report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price objective on the stock. Citigroup increased their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen dropped their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $883.13.

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.