BlackRock $BLK Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,586 shares of the asset manager’s stock after acquiring an additional 523 shares during the period. Concurrent Investment Advisors LLC’s holdings in BlackRock were worth $7,960,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BLK. McLean Asset Management Corp boosted its stake in shares of BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock valued at $285,000 after buying an additional 10 shares during the period. Trust Co. of Oklahoma boosted its stake in shares of BlackRock by 0.5% during the 2nd quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after buying an additional 10 shares during the period. TOWER TRUST & INVESTMENT Co boosted its stake in shares of BlackRock by 1.3% during the 2nd quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after buying an additional 10 shares during the period. Ashton Thomas Securities LLC boosted its stake in shares of BlackRock by 4.7% during the 2nd quarter. Ashton Thomas Securities LLC now owns 223 shares of the asset manager’s stock valued at $234,000 after buying an additional 10 shares during the period. Finally, Ameriflex Group Inc. boosted its stake in shares of BlackRock by 8.8% during the 2nd quarter. Ameriflex Group Inc. now owns 123 shares of the asset manager’s stock valued at $127,000 after buying an additional 10 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other news, 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 transaction of $16,641,167.84. Following the transaction, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,132.12 on Monday. The company has a market capitalization of $175.31 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,184.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company’s fifty day moving average price is $1,134.85 and its 200 day moving average price is $1,035.56.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for 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 business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $10.36 EPS. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s payout ratio is presently 50.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BLK shares. Barclays raised their price target on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. TD Cowen raised their price target on shares of BlackRock from $1,252.00 to $1,301.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, BMO Capital Markets started coverage on shares of BlackRock in a report on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,258.56.

BlackRock Company 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.