Thoroughbred Financial Services LLC Increases Stake in BlackRock, Inc. (NYSE:BLK)

Thoroughbred Financial Services LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 116.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,098 shares of the asset manager’s stock after acquiring an additional 590 shares during the period. Thoroughbred Financial Services LLC’s holdings in BlackRock were worth $864,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Dai ichi Life Insurance Company Ltd boosted its stake in BlackRock by 6.2% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 11,425 shares of the asset manager’s stock worth $8,995,000 after acquiring an additional 671 shares in the last quarter. LWM Advisory Services LLC lifted its stake in shares of BlackRock by 2.5% in the second quarter. LWM Advisory Services LLC now owns 970 shares of the asset manager’s stock worth $764,000 after buying an additional 24 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of BlackRock by 5.2% in the second quarter. GHP Investment Advisors Inc. now owns 4,577 shares of the asset manager’s stock worth $3,603,000 after buying an additional 228 shares in the last quarter. Executive Wealth Management LLC lifted its stake in shares of BlackRock by 27.9% in the second quarter. Executive Wealth Management LLC now owns 12,839 shares of the asset manager’s stock worth $10,108,000 after buying an additional 2,800 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of BlackRock by 44.9% in the second quarter. Meeder Advisory Services Inc. now owns 3,299 shares of the asset manager’s stock worth $2,597,000 after buying an additional 1,023 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup increased their price objective 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. Barclays upped their target price on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

Insider Transactions at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $843.25, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.1 %

BLK stock opened at $885.73 on Monday. The company has a market capitalization of $131.62 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The business has a 50 day simple moving average of $857.98 and a two-hundred day simple moving average of $814.50.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm posted $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 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.