Prime Capital Investment Advisors LLC Has $4.96 Million Stock Position in BlackRock $BLK

Prime Capital Investment Advisors LLC lessened its stake in shares of BlackRock (NYSE:BLK) by 7.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,725 shares of the asset manager’s stock after selling 376 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in BlackRock were worth $4,958,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Securian Asset Management Inc. acquired a new position in BlackRock in the 1st quarter worth about $7,331,000. Prudent Man Advisors LLC bought a new stake in shares of BlackRock during the first quarter worth about $2,018,000. Allianz SE increased its stake in shares of BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after buying an additional 277 shares during the period. Arizona State Retirement System bought a new position in BlackRock in the 1st quarter valued at approximately $40,868,000. Finally, Community Financial Services Group LLC boosted its position in BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after buying an additional 836 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BLK. Evercore ISI raised their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Barclays upped their price target on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley raised their price objective on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, UBS Group reiterated a “neutral” rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,222.87.

Insider Activity

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Trading Up 1.7%

NYSE BLK opened at $1,179.86 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13. The company has a market cap of $182.70 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.18 and a beta of 1.45. The business has a 50 day moving average price of $1,130.91 and a 200-day moving average price of $1,030.30.

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

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s payout ratio is 50.39%.

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.