Edgestream Partners L.P. Purchases New Stake in BlackRock, Inc. (NYSE:BLK)

Edgestream Partners L.P. bought a new position in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 486 shares of the asset manager’s stock, valued at approximately $383,000.

Several other hedge funds also recently bought and sold shares of BLK. Gilbert & Cook Inc. increased its position in BlackRock by 4.8% in the 4th 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 acquired a new position in BlackRock in the 4th quarter worth about $354,000. TrinityPoint Wealth LLC increased its position in BlackRock by 3.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 1,380 shares of the asset manager’s stock worth $1,120,000 after purchasing an additional 51 shares during the last quarter. Evermay Wealth Management LLC increased its position in BlackRock by 6.9% in the 4th quarter. Evermay Wealth Management LLC now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 29 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd bought a new stake in shares of BlackRock during the 4th quarter worth about $734,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Down 0.7 %

Shares of BLK stock opened at $928.79 on Monday. The firm has a fifty day moving average of $868.55 and a 200-day moving average of $817.80. The stock has a market cap of $138.02 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $942.73. 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 (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company earned $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal 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 given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Analyst Ratings Changes

Several research firms have recently issued reports on BLK. Barclays upped their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Morgan Stanley decreased their price target on 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. Evercore ISI upped their price target on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. 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, TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed 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 value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 over the last three months. Company 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.