Rosenberg Matthew Hamilton Purchases 11 Shares of BlackRock $BLK

Rosenberg Matthew Hamilton lifted its position in BlackRock (NYSE:BLK) by 3.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 321 shares of the asset manager’s stock after acquiring an additional 11 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in BlackRock were worth $337,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Securian Asset Management Inc. bought a new stake in shares of BlackRock in the first quarter worth about $7,331,000. Prudent Man Advisors LLC bought a new stake in shares of BlackRock in the first quarter worth about $2,018,000. Allianz SE increased its stake in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after acquiring an additional 277 shares during the last quarter. Arizona State Retirement System bought a new stake in BlackRock during the first quarter worth approximately $40,868,000. Finally, Community Financial Services Group LLC increased its stake in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after acquiring an additional 836 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Up 3.3%

BLK opened at $1,193.23 on Wednesday. The stock has a market cap of $184.77 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.10 and a beta of 1.45. The stock’s 50 day moving average price is $1,137.33 and its 200-day moving average price is $1,038.10. BlackRock has a one year low of $773.74 and a one year high of $1,209.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.46 EPS. On average, equities analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

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 $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.7%. BlackRock’s payout ratio is presently 50.39%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BLK shares. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley boosted their price objective on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their price objective on BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,264.56.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was 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 in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 over the last three months. Company insiders own 1.98% of the company’s stock.

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.