247 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 247 shares of the asset manager’s stock, valued at approximately $206,000.

A number of other hedge funds have also bought and sold shares of the business. Capital Research Global Investors increased its position in BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares during the period. Capital World Investors increased its position in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after acquiring an additional 1,279,952 shares during the period. Morgan Stanley increased its holdings in BlackRock by 3.2% in the 3rd quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock valued at $2,178,048,000 after buying an additional 104,844 shares during the period. Capital International Investors increased its holdings in 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 during the period. Finally, Norges Bank bought a new position in BlackRock in the 4th quarter valued at about $1,812,920,000. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. UBS Group raised their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock Trading Up 0.8 %

BLK opened at $787.32 on Friday. The company’s 50 day moving average is $779.33 and its 200-day moving average is $792.90. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a market cap of $117.00 billion, a P/E ratio of 20.01, a PEG ratio of 1.61 and a beta of 1.34.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the company earned $7.93 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.