247 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Occidental Asset Management LLC

Occidental Asset Management LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 247 shares of the asset manager’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Abacus Planning Group Inc. grew its position in BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the last quarter. Knuff & Co LLC grew its position in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in shares of BlackRock by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the period. Spreng Capital Management Inc. grew its holdings in shares of BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its stake in shares of BlackRock by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after buying an additional 14 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Stock Up 0.8 %

NYSE:BLK opened at $787.32 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The firm’s 50-day moving average price is $779.33 and its 200-day moving average price is $792.90. The company has a market capitalization of $117.00 billion, a PE ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 1.34. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the company earned $7.93 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company 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.