Garner Asset Management Corp Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Garner Asset Management Corp boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,731 shares of the asset manager’s stock after acquiring an additional 239 shares during the quarter. BlackRock accounts for approximately 1.0% of Garner Asset Management Corp’s holdings, making the stock its 26th largest position. Garner Asset Management Corp’s holdings in BlackRock were worth $2,151,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. XML Financial LLC increased its position in shares of BlackRock by 2.6% during 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 during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of BlackRock by 6.1% during the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after purchasing an additional 13 shares during the period. Forza Wealth Management LLC grew its position in BlackRock by 1.3% in the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after acquiring an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 13 shares during the period. Finally, Tortoise Investment Management LLC increased its position in BlackRock by 17.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 13 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective 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. Argus raised their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Citigroup increased their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Stock Up 2.1 %

Shares of NYSE BLK opened at $923.31 on Thursday. The firm’s 50 day moving average price is $864.35 and its 200 day moving average price is $816.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $930.50. The firm has a market cap of $137.20 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating 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 firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock 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 $4,826,802.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

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.