BlackRock, Inc. (NYSE:BLK) Shares Bought by Forsta AP Fonden

Forsta AP Fonden raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the second quarter, HoldingsChannel.com reports. The firm owned 37,700 shares of the asset manager’s stock after buying an additional 100 shares during the period. Forsta AP Fonden’s holdings in BlackRock were worth $29,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the 1st quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock in the 4th quarter worth approximately $28,000. Lam Group Inc. purchased a new stake in BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC acquired a new position in BlackRock during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BLK shares. TD Cowen lowered their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Evercore ISI raised their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Barclays upped their target price on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $883.47.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. 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 three months. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $877.12 on Thursday. 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 quick ratio of 5.06 and a current ratio of 5.06. The company’s fifty day moving average price is $854.14 and its 200 day moving average price is $813.31. The company has a market capitalization of $130.34 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its 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 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company posted $9.28 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

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.