BlackRock $BLK Shares Purchased by McLean Asset Management Corp

McLean Asset Management Corp raised its stake in shares of BlackRock (NYSE:BLK) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266 shares of the asset manager’s stock after buying an additional 10 shares during the period. McLean Asset Management Corp’s holdings in BlackRock were worth $285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiduciary Financial Group LLC purchased a new stake in shares of BlackRock in the second quarter worth approximately $223,000. Michael S. Ryan Inc. grew its stake in shares of BlackRock by 3.2% in the second quarter. Michael S. Ryan Inc. now owns 520 shares of the asset manager’s stock worth $546,000 after acquiring an additional 16 shares during the last quarter. Norway Savings Bank grew its stake in shares of BlackRock by 8.5% in the second quarter. Norway Savings Bank now owns 2,622 shares of the asset manager’s stock worth $2,751,000 after acquiring an additional 205 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in BlackRock by 4.1% during the second quarter. Kera Capital Partners Inc. now owns 4,614 shares of the asset manager’s stock worth $4,841,000 after buying an additional 180 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its stake in BlackRock by 47.9% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 1,266 shares of the asset manager’s stock worth $1,322,000 after buying an additional 410 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLK shares. Barclays lifted their price target on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, UBS Group reissued a “neutral” rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

BlackRock Stock Down 0.9%

BlackRock stock opened at $1,124.34 on Friday. The company’s 50 day simple moving average is $1,115.88 and its 200 day simple moving average is $1,007.01. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The firm has a market capitalization of $174.10 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm posted $10.36 EPS. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is currently 50.39%.

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.