Graypoint LLC Raises Holdings in BlackRock (NYSE:BLK)

Graypoint LLC lifted its stake in shares of BlackRock (NYSE:BLK) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,452 shares of the asset manager’s stock after buying an additional 34 shares during the period. Graypoint LLC’s holdings in BlackRock were worth $1,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of BlackRock by 35.4% in the fourth quarter. Proficio Capital Partners LLC now owns 619 shares of the asset manager’s stock valued at $634,000 after purchasing an additional 162 shares during the period. Harbour Investments Inc. purchased a new position in BlackRock during the 4th quarter valued at about $635,000. Thrivent Financial for Lutherans grew its holdings in shares of BlackRock by 11.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,603 shares of the asset manager’s stock worth $7,813,000 after buying an additional 795 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in BlackRock in the fourth quarter valued at approximately $229,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the subject of several recent research reports. Citigroup lowered their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Argus reiterated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America upped their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,151.21.

BlackRock Stock Performance

NYSE:BLK opened at $1,106.90 on Friday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,115.86. The stock has a 50-day moving average price of $1,009.94 and a 200 day moving average price of $972.77. The stock has a market capitalization of $171.49 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.17 and a beta of 1.41.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business earned $10.36 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.88%. BlackRock’s dividend payout ratio is presently 50.39%.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

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.