Kathmere Capital Management LLC Acquires 54 Shares of BlackRock, Inc. (NYSE:BLK)

Kathmere Capital Management LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 388 shares of the asset manager’s stock after acquiring an additional 54 shares during the quarter. Kathmere Capital Management LLC’s holdings in BlackRock were worth $305,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC grew its stake in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after acquiring an additional 40 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of BlackRock by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of BlackRock by 35.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC grew its stake in shares of BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after acquiring an additional 56,357 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. 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 Stock Up 0.0 %

BLK opened at $945.21 on Friday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $952.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $140.46 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.05 and a beta of 1.30. The stock has a fifty day moving average of $879.35 and a 200-day moving average of $821.77.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm earned $9.28 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced 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. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Ratings Changes

Several research firms have recently commented on BLK. TD Cowen cut their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. StockNews.com began coverage on BlackRock in a report on Thursday. They issued a “hold” rating for the company. Citigroup increased their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Barclays increased their price objective on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

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.