272 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Next Capital Management LLC

Next Capital Management LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 272 shares of the asset manager’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. XML Financial LLC boosted its stake 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 buying an additional 12 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of 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 purchasing an additional 13 shares during the last quarter. Forza Wealth Management LLC increased its holdings in shares of BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the period. Finally, Tortoise Investment Management LLC grew its position in BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com started coverage on BlackRock in a report on Thursday, September 26th. They issued a “hold” rating on the stock. Barclays upped their price target on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Wells Fargo & Company initiated coverage on BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research 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 %

Shares of BlackRock stock opened at $949.50 on Tuesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $881.47 and a 200 day moving average price of $822.72. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $952.75. The firm has a market cap of $141.10 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.05 and a beta of 1.30.

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, topping 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 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 business posted $9.28 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on 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 directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated 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 directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock worth $79,387,117 over the last quarter. 0.90% of the stock is owned by company insiders.

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.