Lyell Wealth Management LP Grows Position in BlackRock, Inc. (NYSE:BLK)

Lyell Wealth Management LP raised its stake in BlackRock, Inc. (NYSE:BLK) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,633 shares of the asset manager’s stock after acquiring an additional 114 shares during the period. Lyell Wealth Management LP’s holdings in BlackRock were worth $4,435,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of BlackRock in the fourth quarter worth about $1,812,920,000. Capital World Investors boosted its position 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 acquiring an additional 1,279,952 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after purchasing an additional 749,654 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in BlackRock by 24,171.5% in the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after purchasing an additional 414,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $885.73 on Friday. The company has a market cap of $131.20 billion, a P/E ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.30. 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’s 50-day moving average is $857.98 and its 200 day moving average is $814.47. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46.

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, 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 firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm earned $9.28 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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 issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.30%. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was 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 approximately $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BLK shares. Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Evercore ISI boosted 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. Citigroup lifted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Wells Fargo & Company began coverage on BlackRock in a report on Thursday. They issued an “overweight” rating and a $1,000.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $902.13.

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.