Osprey Private Wealth LLC Acquires Shares of 6,060 BlackRock $BLK

Osprey Private Wealth LLC acquired a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, Holdings Channel reports. The fund acquired 6,060 shares of the asset manager’s stock, valued at approximately $6,558,000. BlackRock makes up approximately 3.6% of Osprey Private Wealth LLC’s holdings, making the stock its 9th largest position.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted its stake in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. lifted its stake in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in BlackRock during the fourth quarter valued at about $30,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter worth approximately $30,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the 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 transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.9%

NYSE:BLK opened at $1,124.34 on Friday. The stock’s 50 day moving average price is $1,115.88 and its 200 day moving average price is $1,007.38. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a market capitalization of $174.10 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $10.36 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on BLK. Evercore ISI increased their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Barclays increased their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. UBS Group reissued a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group increased their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,154.07.

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.