Callan Capital LLC Acquires 56 Shares of BlackRock (NYSE:BLK)

Callan Capital LLC boosted its holdings in shares of BlackRock (NYSE:BLK) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 479 shares of the asset manager’s stock after buying an additional 56 shares during the quarter. Callan Capital LLC’s holdings in BlackRock were worth $453,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of BlackRock by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after purchasing an additional 68,405 shares in the last quarter. Capital World Investors increased its stake in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock worth $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. Finally, FMR LLC increased its stake in shares of BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after purchasing an additional 26,485 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Down 0.5%

BLK stock opened at $1,076.55 on Tuesday. The company has a market capitalization of $166.79 billion, a PE ratio of 26.16, a P/E/G ratio of 3.26 and a beta of 1.41. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,086.84. The firm’s 50-day moving average is $982.91 and its 200 day moving average is $969.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $9.81 EPS. On average, research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Argus upped their target price on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. UBS Group dropped their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Barclays upped their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Wells Fargo & Company lifted their price objective on BlackRock from $1,105.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,110.92.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director owned 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

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.