BlackRock, Inc. (NYSE:BLK) Shares Acquired by Sienna Gestion

Sienna Gestion boosted its position in BlackRock, Inc. (NYSE:BLK) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,443 shares of the asset manager’s stock after acquiring an additional 89 shares during the quarter. BlackRock accounts for about 1.0% of Sienna Gestion’s holdings, making the stock its 24th biggest holding. Sienna Gestion’s holdings in BlackRock were worth $11,366,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. XML Financial LLC raised its holdings in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares in the last quarter. Forza Wealth Management LLC lifted its holdings in BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of BlackRock by 4.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after acquiring an additional 13 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in shares of BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $923.31 on Thursday. 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 firm has a market cap of $137.20 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The firm’s fifty day moving average price is $864.35 and its 200 day moving average price is $816.48. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $930.50.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $9.28 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BLK. Argus upped their price target on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Barclays boosted their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $902.13.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of BlackRock 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 directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 27,000 shares of BlackRock 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 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. In the last three months, insiders sold 93,042 shares of company stock valued at $79,387,117. 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.