Bank of Montreal Can Purchases 5,654 Shares of BlackRock, Inc. (NYSE:BLK)

Bank of Montreal Can raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,717 shares of the asset manager’s stock after acquiring an additional 5,654 shares during the period. Bank of Montreal Can owned approximately 0.22% of BlackRock worth $257,176,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BLK. Evergreen Capital Management LLC raised its position in shares of BlackRock by 6.8% in the second quarter. Evergreen Capital Management LLC now owns 8,167 shares of the asset manager’s stock valued at $6,430,000 after buying an additional 519 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of BlackRock by 7.3% in the second quarter. Public Sector Pension Investment Board now owns 23,697 shares of the asset manager’s stock valued at $18,657,000 after buying an additional 1,615 shares in the last quarter. Harmony Asset Management LLC raised its position in shares of BlackRock by 4.7% in the second quarter. Harmony Asset Management LLC now owns 2,689 shares of the asset manager’s stock valued at $2,117,000 after buying an additional 120 shares in the last quarter. DRW Securities LLC raised its position in shares of BlackRock by 698.2% in the second quarter. DRW Securities LLC now owns 2,235 shares of the asset manager’s stock valued at $1,759,000 after buying an additional 1,955 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of BlackRock by 5.2% in the second quarter. EverSource Wealth Advisors LLC now owns 482 shares of the asset manager’s stock valued at $379,000 after buying an additional 24 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.7 %

Shares of NYSE:BLK opened at $928.79 on Monday. The company has a fifty day moving average of $868.55 and a 200-day moving average of $817.80. The company has a market capitalization of $138.02 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. 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 52-week low of $596.18 and a 52-week high of $942.73.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping 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 company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 earnings per share. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts predict that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed 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 2.20%. BlackRock’s dividend payout ratio is 51.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLK shares. Morgan Stanley dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Citigroup boosted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company started coverage on shares of BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective for the company. Finally, Barclays boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $902.13.

Insider Buying and Selling

In related 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 value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other BlackRock news, Director Mark Wiedman sold 11,061 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the company’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 sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 over the last 90 days. 0.90% of the stock is owned by insiders.

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.