Stablepoint Partners LLC Purchases 104 Shares of BlackRock, Inc. (NYSE:BLK)

Stablepoint Partners LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,321 shares of the asset manager’s stock after purchasing an additional 104 shares during the quarter. Stablepoint Partners LLC’s holdings in BlackRock were worth $1,139,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BLK. Belpointe Asset Management LLC boosted its stake in shares of BlackRock by 3.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 1,921 shares of the asset manager’s stock worth $1,513,000 after acquiring an additional 59 shares during the period. Community Bank & Trust Waco Texas lifted its holdings in BlackRock by 0.9% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 2,149 shares of the asset manager’s stock valued at $1,692,000 after purchasing an additional 19 shares during the last quarter. Larson Financial Group LLC boosted its position in BlackRock by 13.4% during the second quarter. Larson Financial Group LLC now owns 432 shares of the asset manager’s stock worth $340,000 after purchasing an additional 51 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of BlackRock by 6.3% in the second quarter. Foundations Investment Advisors LLC now owns 907 shares of the asset manager’s stock valued at $714,000 after purchasing an additional 54 shares during the last quarter. Finally, Fortis Capital Advisors LLC raised its position in shares of BlackRock by 3.1% in the second quarter. Fortis Capital Advisors LLC now owns 1,076 shares of the asset manager’s stock valued at $847,000 after purchasing an additional 32 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on BLK shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Argus increased their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. TD Cowen reduced their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group lowered their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $883.13.

Insiders Place Their Bets

In other news, 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was 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 directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction 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 sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

Shares of NYSE:BLK opened at $875.92 on Friday. The firm has a 50 day moving average of $846.98 and a 200-day moving average of $811.26. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $903.46. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $130.16 billion, a PE ratio of 22.26, a PEG ratio of 1.97 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate 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 net margin of 32.36% and a return on equity of 15.44%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.28 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

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.