Choreo LLC Increases Position in BlackRock, Inc. (NYSE:BLK)

Choreo LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 478.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,894 shares of the asset manager’s stock after buying an additional 4,048 shares during the quarter. Choreo LLC’s holdings in BlackRock were worth $3,831,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings in shares of BlackRock by 4.8% in the 4th quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after buying an additional 62 shares during the period. Gryphon Financial Partners LLC bought a new stake in shares of BlackRock in the fourth quarter valued at about $354,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of BlackRock by 22.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,934 shares of the asset manager’s stock valued at $1,570,000 after acquiring an additional 361 shares in the last quarter. One Capital Management LLC purchased a new stake in BlackRock in the fourth quarter worth about $205,000. Finally, Avantax Advisory Services Inc. grew its holdings in BlackRock by 2.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,037 shares of the asset manager’s stock worth $4,089,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction 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 filing with the SEC, which is available at this hyperlink. In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now 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 worth $79,387,117 in the last three months. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $883.47.

BlackRock Trading Up 1.9 %

Shares of BlackRock stock opened at $877.94 on Tuesday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $903.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market cap of $130.05 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The firm has a fifty day moving average price of $850.49 and a 200 day moving average price of $812.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 15.44% and a net margin of 32.36%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.28 EPS. Equities research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.32%. BlackRock’s payout ratio is 51.84%.

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.