Waterloo Capital L.P. Buys 43 Shares of BlackRock, Inc. (NYSE:BLK)

Waterloo Capital L.P. grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 765 shares of the asset manager’s stock after acquiring an additional 43 shares during the quarter. Waterloo Capital L.P.’s holdings in BlackRock were worth $602,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BLK. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the 1st quarter worth approximately $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock during the fourth quarter valued at $28,000. Lam Group Inc. purchased a new stake in BlackRock in the first quarter worth about $33,000. Fairman Group LLC purchased a new stake in BlackRock in the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new stake in BlackRock in the first quarter worth about $38,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now owns 6,480 shares in the company, valued at $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. 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 ninety days. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $923.31 on Thursday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $930.50. The business’s 50-day moving average price is $864.35 and its 200 day moving average price is $816.48. The firm has a market cap of $137.20 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.92 and a beta of 1.30.

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

BlackRock Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.21%. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BLK shares. Evercore ISI increased their price target on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Barclays increased their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley reduced 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $902.13.

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.