BlackRock, Inc. (NYSE:BLK) Stake Lifted by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 176.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 78,797 shares of the asset manager’s stock after buying an additional 50,342 shares during the quarter. AQR Capital Management LLC’s holdings in BlackRock were worth $62,026,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BLK. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter worth about $27,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $28,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the second quarter valued at approximately $31,000. Lam Group Inc. acquired a new position in shares of BlackRock during the first quarter worth approximately $33,000. Finally, Fairman Group LLC bought a new position in BlackRock in the 4th quarter worth approximately $35,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction 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 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 filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $945.66 on Friday. The firm has a 50-day moving average of $879.35 and a two-hundred day moving average of $821.82. The firm has a market capitalization of $140.53 billion, a PE ratio of 24.03, a P/E/G ratio of 2.05 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a one year low of $596.18 and a one year high of $952.75.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $9.28 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.16%. BlackRock’s dividend payout ratio is 51.84%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BLK shares. Argus lifted their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. TD Cowen lowered their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company began coverage on shares of BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

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.