Evergreen Capital Management LLC Acquires 519 Shares of BlackRock, Inc. (NYSE:BLK)

Evergreen Capital Management LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,167 shares of the asset manager’s stock after purchasing an additional 519 shares during the period. Evergreen Capital Management LLC’s holdings in BlackRock were worth $6,430,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter valued at $27,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter valued at $28,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter valued at $31,000. Lam Group Inc. acquired a new position in shares of BlackRock during the first quarter valued at $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock during the fourth quarter valued at $35,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 1.0 %

NYSE BLK opened at $937.94 on Tuesday. The firm has a market cap of $139.38 billion, a P/E ratio of 23.84, a P/E/G 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. The stock’s 50-day moving average is $870.85 and its 200-day moving average is $818.55. BlackRock, Inc. has a one year low of $596.18 and a one year high of $942.73.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $9.28 earnings per share. Sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen cut their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Barclays increased their target price on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Wells Fargo & Company assumed coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $902.13.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’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 completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value 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 $5,407,041.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is owned by corporate insiders.

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.