30,158 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Distillate Capital Partners LLC

Distillate Capital Partners LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,158 shares of the asset manager’s stock, valued at approximately $23,744,000. BlackRock comprises about 1.3% of Distillate Capital Partners LLC’s holdings, making the stock its 16th biggest holding.

Several other hedge funds also recently modified their holdings of BLK. Carolinas Wealth Consulting LLC raised its position in BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after buying an additional 1,647 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares during the last quarter. Morningstar Investment Services LLC increased its position in BlackRock by 97.1% in the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after acquiring an additional 56,357 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of BlackRock by 3.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of several research analyst reports. Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Evercore ISI boosted their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley lowered 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $902.13.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other BlackRock 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 of the company’s stock, valued at approximately $5,407,041.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of BlackRock 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $937.94 on Tuesday. The stock’s fifty day simple moving average is $870.85 and its 200 day simple moving average is $818.55. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $139.38 billion, a PE ratio of 23.84, a PEG ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $942.73.

BlackRock (NYSE:BLK) last released 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. 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 analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the business posted $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

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.