Fairscale Capital LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Fairscale Capital LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 37 shares of the asset manager’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLK. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the first quarter valued at $27,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $28,000. Lam Group Inc. purchased a new stake in shares of BlackRock during the first quarter valued at $33,000. Fairman Group LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $35,000. Finally, Chilton Capital Management LLC purchased a new position in BlackRock in the 1st quarter worth about $38,000. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BLK. Wells Fargo & Company initiated coverage on shares of BlackRock in a research note on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price objective for the company. Evercore ISI lifted their price objective on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Morgan Stanley cut their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. 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 report on Monday, July 8th. Finally, UBS Group dropped their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $902.13.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 over the last three months. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Down 0.7 %

BLK opened at $928.79 on Monday. 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 current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73. The business has a 50-day moving average of $868.55 and a 200-day moving average of $817.80.

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, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.28 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

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 issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

BlackRock Company 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.