BlackRock $BLK Shares Purchased by Community Financial Services Group LLC

Community Financial Services Group LLC increased its position in shares of BlackRock (NYSE:BLK) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,717 shares of the asset manager’s stock after acquiring an additional 15 shares during the quarter. Community Financial Services Group LLC’s holdings in BlackRock were worth $5,999,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the period. Royal Bank of Canada raised its stake in BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock worth $1,142,340,000 after purchasing an additional 111,694 shares during the period. Goldman Sachs Group Inc. raised its stake in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after purchasing an additional 279,336 shares during the period. Finally, Invesco Ltd. raised its stake in BlackRock by 13.2% during the first quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock worth $882,970,000 after purchasing an additional 108,473 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

BLK has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Barclays increased their price objective 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. Bank of America increased their price objective 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, July 16th. Finally, UBS Group reissued a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,171.93.

BlackRock Price Performance

BLK opened at $1,142.33 on Thursday. The company has a fifty day simple moving average of $1,128.09 and a 200 day simple moving average of $1,024.88. The firm has a market cap of $176.89 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.23 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,183.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $10.36 EPS. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction 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 directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 in the last 90 days. 1.98% of the stock is currently owned by 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.