Lion Street Advisors LLC Purchases New Stake in BlackRock, Inc. (NYSE:BLK)

Lion Street Advisors LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 303 shares of the asset manager’s stock, valued at approximately $239,000.

Other hedge funds have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in BlackRock in the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new position in BlackRock during the first quarter worth about $27,000. Private Wealth Management Group LLC bought a new position in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC bought a new position in BlackRock during the fourth quarter worth about $28,000. Finally, Wetzel Investment Advisors Inc. bought a new position in BlackRock during the fourth quarter worth about $32,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent analyst reports. Citigroup raised their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. UBS Group reduced their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods raised their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Morgan Stanley dropped their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $872.29.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold 88,959 shares of company stock valued at $73,660,507 in the last 90 days. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Up 0.2 %

BlackRock stock traded up $1.38 during midday trading on Friday, reaching $856.21. The stock had a trading volume of 290,379 shares, compared to its average volume of 607,510. The firm’s fifty day simple moving average is $810.38 and its 200-day simple moving average is $799.76. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The stock has a market capitalization of $127.23 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.28 EPS. As a group, analysts expect that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.