Krilogy Financial LLC Grows Stock Position in BlackRock, Inc. (NYSE:BLK)

Krilogy Financial LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,549 shares of the asset manager’s stock after purchasing an additional 29 shares during the period. Krilogy Financial LLC’s holdings in BlackRock were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. Western Pacific Wealth Management LP bought a new position in shares of BlackRock in the 4th quarter valued at about $27,000. ACG Wealth acquired a new position in BlackRock during the second quarter valued at $31,000. McIlrath & Eck LLC increased its holdings in BlackRock by 67.9% in the first quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock valued at $36,000 after buying an additional 19 shares in the last quarter. Disciplined Investments LLC increased its holdings in BlackRock by 45.5% in the first quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock valued at $37,000 after buying an additional 15 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of BlackRock by 142.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 63 shares of the asset manager’s stock worth $38,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 76.88% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $600.50 on Friday. The business’s 50-day moving average is $672.16 and its 200-day moving average is $665.81. BlackRock, Inc. has a fifty-two week low of $575.60 and a fifty-two week high of $973.16. The company has a market capitalization of $90.54 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $10.03 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 33.92 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th were paid a $4.88 dividend. The ex-dividend date was Tuesday, September 6th. This is a positive change from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio (DPR) is 51.46%.

Insider Buying and Selling

In other BlackRock news, Director Mark Mccombe sold 1,360 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the transaction, the director now owns 21,106 shares in the company, valued at $15,614,007.74. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Laurence Fink sold 44,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Mccombe sold 1,360 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the sale, the director now owns 21,106 shares of the company’s stock, valued at $15,614,007.74. The disclosure for this sale can be found here. Insiders sold a total of 83,448 shares of company stock worth $55,259,953 over the last three months. 1.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BLK shares. UBS Group dropped their price objective on shares of BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Morgan Stanley dropped their price objective on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group dropped their price objective on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research note on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $804.46.

BlackRock Profile

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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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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