Concord Asset Management LLC VA Raises Holdings in BlackRock $BLK

Concord Asset Management LLC VA boosted its stake in shares of BlackRock (NYSE:BLK) by 34.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 908 shares of the asset manager’s stock after purchasing an additional 234 shares during the quarter. Concord Asset Management LLC VA’s holdings in BlackRock were worth $953,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BLK. Royal Bank of Canada increased its holdings in BlackRock by 73.2% during the 1st 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. Vanguard Group Inc. increased its holdings in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after acquiring an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after acquiring an additional 279,336 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at about $231,000. Finally, Unisphere Establishment increased its holdings in shares of BlackRock by 29.2% in the 1st quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after acquiring an additional 189,500 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $19,207,611.00. Following the sale, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. Insiders own 1.98% of the company’s stock.

BlackRock Trading Down 3.0%

NYSE:BLK opened at $1,132.12 on Monday. The stock’s 50 day moving average price is $1,134.85 and its 200 day moving average price is $1,035.56. The company has a market capitalization of $175.31 billion, a PE ratio of 27.37, a P/E/G ratio of 2.15 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,184.13.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (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 last year, the business posted $10.36 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research 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 was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on BlackRock from $1,252.00 to $1,301.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,221.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI increased their price objective on BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup raised their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,258.56.

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.