CVA Family Office LLC Purchases 15 Shares of BlackRock, Inc. (NYSE:BLK)

CVA Family Office LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254 shares of the asset manager’s stock after acquiring an additional 15 shares during the period. CVA Family Office LLC’s holdings in BlackRock were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock in the 1st quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $28,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $28,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of BlackRock in the 4th quarter valued at $32,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock traded down $1.12 during mid-day trading on Wednesday, hitting $839.84. The company had a trading volume of 718,661 shares, compared to its average volume of 611,107. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $885.10. The stock’s 50 day moving average price is $805.15 and its 200-day moving average price is $798.65. 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 company has a market capitalization of $124.80 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm earned $9.28 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Activity at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now 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 through the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, 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. Insiders have sold a total of 68,509 shares of company stock valued at $55,981,794 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research reports. Morgan Stanley cut their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. UBS Group lowered their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $872.29.

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.