Truist Financial Corp Buys 1,021 Shares of BlackRock, Inc. (NYSE:BLK)

Truist Financial Corp grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,265 shares of the asset manager’s stock after buying an additional 1,021 shares during the period. Truist Financial Corp owned approximately 0.14% of BlackRock worth $162,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BLK. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the first quarter valued at approximately $27,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $28,000. Fairscale Capital LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at $31,000. Lam Group Inc. bought a new stake in shares of BlackRock in the 1st quarter valued at $33,000. Finally, Fairman Group LLC acquired a new stake in BlackRock during the 4th quarter worth $35,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BLK shares. Wells Fargo & Company assumed coverage on BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Citigroup lifted 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. Morgan Stanley lowered their price objective 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, UBS Group dropped their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Stock Up 0.5 %

BLK stock opened at $949.50 on Tuesday. The company has a market cap of $141.10 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $952.75. The business has a 50 day moving average price of $881.47 and a two-hundred day moving average price of $822.72. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $9.28 earnings per share. Analysts anticipate that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Buying and Selling

In other 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 completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackRock 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 value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,042 shares of company stock worth $79,387,117. 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.