Gofen & Glossberg LLC IL Buys 69 Shares of BlackRock, Inc. (NYSE:BLK)

Gofen & Glossberg LLC IL grew its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,212 shares of the asset manager’s stock after purchasing an additional 69 shares during the period. Gofen & Glossberg LLC IL’s holdings in BlackRock were worth $3,783,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Signature Wealth Management Group boosted its position in BlackRock by 95.7% in the second quarter. Signature Wealth Management Group now owns 3,299 shares of the asset manager’s stock valued at $2,009,000 after buying an additional 1,613 shares in the last quarter. Krilogy Financial LLC lifted its position in shares of BlackRock by 1.9% during the second quarter. Krilogy Financial LLC now owns 1,549 shares of the asset manager’s stock worth $943,000 after purchasing an additional 29 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of BlackRock by 17.0% during the second quarter. Orion Portfolio Solutions LLC now owns 1,865 shares of the asset manager’s stock worth $1,136,000 after buying an additional 271 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of BlackRock by 2.7% during the second quarter. Raymond James Trust N.A. now owns 30,159 shares of the asset manager’s stock worth $18,368,000 after buying an additional 782 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its stake in shares of BlackRock by 2.8% during the second quarter. Pittenger & Anderson Inc. now owns 27,975 shares of the asset manager’s stock worth $17,038,000 after buying an additional 753 shares during the last quarter. Institutional investors own 76.88% of the company’s stock.

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 shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the transaction, the director now directly owns 21,106 shares of the company’s stock, valued at approximately $15,614,007.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other BlackRock news, Director Mark Mccombe sold 1,360 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 21,106 shares of the company’s stock, valued at approximately $15,614,007.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 44,500 shares of the firm’s stock in a transaction dated 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 directly owns 563,771 shares in the company, valued at $385,963,264.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,448 shares of company stock valued at $55,259,953. 1.06% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $600.50 on Friday. The stock has a market cap of $90.54 billion, a P/E 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. The company has a fifty day moving average price of $672.16 and a two-hundred day moving average price of $665.81. BlackRock, Inc. has a one year low of $575.60 and a one year high of $973.16.

BlackRock (NYSE:BLKGet Rating) last issued 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 company 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%. BlackRock’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $10.03 earnings per share. As a group, equities analysts predict that BlackRock, Inc. will post 33.92 EPS for the current year.

BlackRock Increases Dividend

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

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. UBS Group lowered their price objective on shares of BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. The Goldman Sachs Group lowered their price objective on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research report on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $804.46.

BlackRock Company 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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