Lake Street Financial LLC Has $824,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Lake Street Financial LLC raised its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,078 shares of the asset manager’s stock after acquiring an additional 29 shares during the quarter. Lake Street Financial LLC’s holdings in BlackRock were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Steward Financial Group LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $27,000. Western Pacific Wealth Management LP acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $27,000. Sierra Capital LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $29,000. Confluence Wealth Services Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $35,000. Finally, Covestor Ltd acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 93.81% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $695.93 on Friday. The company’s fifty day simple moving average is $633.39 and its 200-day simple moving average is $687.70. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.39. The firm has a market cap of $105.43 billion, a PE ratio of 18.35, a P/E/G ratio of 3.65 and a beta of 1.25. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16.

BlackRock (NYSE:BLKGet Rating) last issued its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a return on equity of 15.72% and a net margin of 30.12%. BlackRock’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.03 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 33.91 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be issued a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a yield of 2.80%. BlackRock’s payout ratio is 51.46%.

Insider Buying and Selling

In related news, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other BlackRock news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the transaction, the chief executive officer now owns 563,771 shares in the company, valued at $385,963,264.31. The disclosure for this sale can be found here. 1.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on BLK. UBS Group reduced their price objective on shares of BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Citigroup reduced their price objective on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. The Goldman Sachs Group reduced their price objective on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of BlackRock from $747.00 to $725.00 in a research note on Wednesday, July 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $794.08.

BlackRock Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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