Concurrent Investment Advisors LLC Has $3.35 Million Position in BlackRock, Inc. (NYSE:BLK)

Concurrent Investment Advisors LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,259 shares of the asset manager’s stock after buying an additional 258 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in BlackRock were worth $3,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of BlackRock by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Capital Research Global Investors raised its stake in shares of BlackRock by 11.1% during the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Capital World Investors lifted its holdings in shares of BlackRock by 57.3% during the 4th 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 grew its stake in shares of BlackRock by 2.4% in the 4th 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 in the last quarter. Finally, Norges Bank acquired a new position in BlackRock in the fourth quarter worth approximately $1,812,920,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark Wiedman sold 11,061 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $852.95, for a total value of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,527,116. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction 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 in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BLK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Barclays began coverage on shares of BlackRock in a research report on Tuesday. They set an “overweight” rating and a $985.00 target price on the stock. UBS Group reduced their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $881.47.

BlackRock Stock Performance

Shares of BlackRock stock traded up $6.94 during midday trading on Friday, hitting $901.81. The company had a trading volume of 478,238 shares, compared to its average volume of 590,117. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The business’s 50 day simple moving average is $839.20 and its two-hundred day simple moving average is $808.52. The stock has a market cap of $134.01 billion, a PE ratio of 22.92, a P/E/G ratio of 1.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the business posted $9.28 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders 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 dividend yield of 2.26%. BlackRock’s dividend payout ratio is currently 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.