TD Asset Management Inc Grows Stake in BlackRock, Inc. (NYSE:BLK)

TD Asset Management Inc increased its stake in BlackRock, Inc. (NYSE:BLK) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,022 shares of the asset manager’s stock after acquiring an additional 1,475 shares during the period. TD Asset Management Inc’s holdings in BlackRock were worth $51,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Gilbert & Cook Inc. lifted its stake in BlackRock by 4.8% in the fourth quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after purchasing an additional 62 shares during the last quarter. Gryphon Financial Partners LLC bought a new stake in BlackRock in the fourth quarter worth about $354,000. Picton Mahoney Asset Management bought a new stake in BlackRock in the fourth quarter worth about $122,000. Northwest Financial Advisors bought a new stake in BlackRock in the fourth quarter worth about $32,000. Finally, VisionPoint Advisory Group LLC lifted its stake in BlackRock by 101.2% in the fourth quarter. VisionPoint Advisory Group LLC now owns 328 shares of the asset manager’s stock worth $266,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now 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 a total of 93,042 shares of company stock worth $79,387,117 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $866.92 on Friday. The firm has a market capitalization of $128.82 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.97 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. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The company’s fifty day moving average price is $848.57 and its 200-day moving average price is $811.77.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $9.28 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.35%. BlackRock’s dividend payout ratio is presently 51.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BLK shares. Evercore ISI lifted their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley reduced their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, UBS Group reduced their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $883.13.

BlackRock Company 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.