BlackRock, Inc. (NYSE:BLK) Stock Position Increased by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 15.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 175 shares of the asset manager’s stock after buying an additional 24 shares during the period. Eagle Bay Advisors LLC’s holdings in BlackRock were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BLK. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock in the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock in the fourth quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA grew its position in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 0.2 %

BLK stock traded up $1.39 during mid-day trading on Thursday, reaching $842.48. 262,036 shares of the stock traded hands, compared to its average volume of 600,098. The stock’s fifty day moving average is $790.82 and its 200-day moving average is $793.48. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $851.88. The company has a market cap of $125.19 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.87 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 (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company earned $9.28 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 41.12 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.42%. BlackRock’s dividend payout ratio is 51.84%.

Analysts Set New Price Targets

BLK has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley dropped their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen dropped their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods raised their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $872.29.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.