Boston Financial Mangement LLC Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Boston Financial Mangement LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 22,557 shares of the asset manager’s stock after buying an additional 71 shares during the quarter. Boston Financial Mangement LLC’s holdings in BlackRock were worth $17,760,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in BlackRock in the 1st quarter worth about $27,000. Private Wealth Management Group LLC purchased a new position in BlackRock in the 4th quarter worth about $28,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter worth about $28,000. Knuff & Co LLC raised its position in BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after buying an additional 13 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in BlackRock in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLK shares. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Evercore ISI boosted their price target on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $881.47.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,832,000. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 in the last three months. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $7.43 during mid-day trading on Friday, reaching $902.30. 478,207 shares of the company traded hands, compared to its average volume of 590,117. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $903.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The firm has a market cap of $134.08 billion, a PE ratio of 22.93, a PEG ratio of 1.92 and a beta of 1.32. The company’s 50 day moving average price is $836.92 and its 200-day moving average price is $807.82.

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. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company posted $9.28 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.26%. BlackRock’s payout ratio is 51.84%.

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.