Callan Family Office LLC Increases Stock Position in BlackRock, Inc. (NYSE:BLK)

Callan Family Office LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 73.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,040 shares of the asset manager’s stock after purchasing an additional 442 shares during the period. Callan Family Office LLC’s holdings in BlackRock were worth $987,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors grew its position in BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after acquiring an additional 435,358 shares in the last quarter. Fisher Asset Management LLC increased its stake in BlackRock by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock worth $1,636,052,000 after acquiring an additional 47,128 shares during the last quarter. Ameriprise Financial Inc. raised its position in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after purchasing an additional 22,311 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group cut their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Argus increased their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Citigroup upped their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI upped their price target on shares of BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $943.93.

BlackRock Stock Performance

Shares of BlackRock stock opened at $940.53 on Tuesday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $960.74. The company has a market capitalization of $139.76 billion, a PE ratio of 23.90, a P/E/G ratio of 2.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a 50-day simple moving average of $890.01 and a two-hundred day simple moving average of $826.73.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company earned $9.28 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 41.37 EPS for the current fiscal 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 issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.17%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s 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 transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were 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 directly owns 6,480 shares in the company, valued at $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 in the last three months. 0.90% of the stock is owned by insiders.

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.