BlackRock $BLK Shares Acquired by Addison Capital Co

Addison Capital Co lifted its holdings in BlackRock (NYSE:BLK) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,570 shares of the asset manager’s stock after buying an additional 165 shares during the quarter. BlackRock accounts for 1.3% of Addison Capital Co’s portfolio, making the stock its 22nd biggest holding. Addison Capital Co’s holdings in BlackRock were worth $3,379,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Securian Asset Management Inc. acquired a new position in shares of BlackRock during the 1st quarter worth $7,331,000. Prudent Man Advisors LLC purchased a new stake in BlackRock during the first quarter worth about $2,018,000. Allianz SE grew its holdings in shares of BlackRock by 2.6% in the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after acquiring an additional 277 shares during the period. Arizona State Retirement System acquired a new stake in BlackRock in the first quarter valued at $40,868,000. Finally, Polar Capital Holdings Plc acquired a new stake in BlackRock in the 4th quarter valued at about $15,307,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Morgan Stanley reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Bank of America raised their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. UBS Group reissued a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Finally, Barclays upped their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Stock Performance

NYSE BLK opened at $1,102.93 on Thursday. The business’s 50-day moving average price is $1,113.75 and its 200 day moving average price is $1,004.60. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a market capitalization of $170.79 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.36 EPS. On average, research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insider Activity at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last 90 days. Company insiders own 1.98% of the company’s stock.

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.