Norden Group LLC Purchases 88 Shares of BlackRock $BLK

Norden Group LLC boosted its position in BlackRock (NYSE:BLK) by 13.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 727 shares of the asset manager’s stock after acquiring an additional 88 shares during the period. Norden Group LLC’s holdings in BlackRock were worth $763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Brighton Jones LLC raised its position in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC raised its holdings in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth $216,000. Park Square Financial Group LLC bought a new position in shares of BlackRock in the fourth quarter worth $50,000. Finally, Centaurus Financial Inc. purchased a new position in shares of BlackRock in the fourth quarter valued at $1,174,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLK. Argus reaffirmed a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group boosted their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company decreased their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,154.07.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

BlackRock Stock Up 1.6%

BLK opened at $1,146.33 on Friday. The business’s fifty day simple moving average is $1,123.70 and its 200 day simple moving average is $1,018.07. 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 stock has a market cap of $177.51 billion, a PE ratio of 27.72, a P/E/G ratio of 2.16 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.36 earnings per share. As a group, research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

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.