Charter Capital Management LLC DE Invests $254,000 in BlackRock $BLK

Charter Capital Management LLC DE bought a new stake in shares of BlackRock (NYSE:BLK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 242 shares of the asset manager’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after buying an additional 387,466 shares during the period. GAMMA Investing LLC increased its position in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Royal Bank of Canada raised its stake in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock worth $1,142,340,000 after purchasing an additional 111,694 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after purchasing an additional 279,336 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 news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on 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 transaction, the chief executive officer owned 263,751 shares of the company’s stock, valued at $296,002,472.28. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company’s stock, valued at $3,936,571.86. The trade was a 55.84% 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 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

BLK stock opened at $1,131.86 on Wednesday. The firm has a market capitalization of $175.27 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $1,121.97 and a two-hundred day simple moving average of $1,015.69.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm posted $10.36 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. Morgan Stanley dropped their price target on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Jefferies Financial Group lifted their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

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.