JB Capital LLC Increases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

JB Capital LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,718 shares of the asset manager’s stock after buying an additional 442 shares during the quarter. JB Capital LLC’s holdings in BlackRock were worth $6,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the fourth quarter valued at approximately $27,000. J.W. Cole Advisors Inc. increased its holdings in BlackRock by 62.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 912 shares of the asset manager’s stock worth $741,000 after acquiring an additional 352 shares during the last quarter. North Star Asset Management Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at approximately $225,000. Diversified LLC bought a new position in BlackRock in the 4th quarter worth approximately $214,000. Finally, Foster & Motley Inc. bought a new stake in BlackRock during the 4th quarter valued at $267,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated 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 owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,042 shares of company stock worth $68,587,117. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 2.1 %

NYSE BLK traded up $18.01 during trading on Friday, hitting $883.25. The company had a trading volume of 280,917 shares, compared to its average volume of 594,802. The company’s fifty day moving average is $826.22 and its 200-day moving average is $804.48. The company has a market cap of $131.25 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10.

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

BlackRock Dividend Announcement

The company also recently disclosed 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 yield of 2.31%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BLK shares. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. UBS Group dropped their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. TD Cowen lowered 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. Evercore ISI increased their target price on shares of BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley cut their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $874.07.

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.