Public Sector Pension Investment Board Buys 1,615 Shares of BlackRock, Inc. (NYSE:BLK)

Public Sector Pension Investment Board raised its position in BlackRock, Inc. (NYSE:BLK) by 7.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 23,697 shares of the asset manager’s stock after purchasing an additional 1,615 shares during the period. Public Sector Pension Investment Board’s holdings in BlackRock were worth $18,657,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. XML Financial LLC increased its holdings in BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after acquiring an additional 12 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares in the last quarter. Forza Wealth Management LLC raised its holdings in BlackRock by 1.3% during 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 period. 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 worth $243,000 after acquiring an additional 13 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in shares of BlackRock by 17.1% in the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after acquiring an additional 13 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.7 %

BLK stock opened at $928.79 on Monday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $942.73. 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’s 50 day moving average price is $868.55 and its two-hundred day moving average price is $817.80. 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 data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm earned $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.20%. BlackRock’s payout ratio is currently 51.84%.

Analyst Ratings Changes

A number of analysts recently issued reports on BLK shares. Evercore ISI increased their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Citigroup raised 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. Argus increased their target price 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. Morgan Stanley reduced 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. Finally, Keefe, Bruyette & Woods lifted their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price 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.