Agate Pass Investment Management LLC Buys 90 Shares of BlackRock, Inc. (NYSE:BLK)

Agate Pass Investment Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 654 shares of the asset manager’s stock after purchasing an additional 90 shares during the quarter. Agate Pass Investment Management LLC’s holdings in BlackRock were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC raised its position in BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of BlackRock during the 4th quarter valued at about $439,000. Louisiana State Employees Retirement System bought a new stake in BlackRock in the 4th quarter worth approximately $6,900,000. Zhang Financial LLC grew its position in BlackRock by 24.0% during the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 171 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in BlackRock by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after acquiring an additional 1,647 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BLK shares. TD Cowen cut their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group reduced their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Citigroup increased their target price on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley decreased their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $872.29.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,959 shares of company stock worth $73,660,507. 0.90% of the stock is owned by corporate insiders.

BlackRock Trading Up 1.9 %

NYSE BLK traded up $16.32 during trading on Tuesday, hitting $854.59. The company had a trading volume of 384,538 shares, compared to its average volume of 605,452. The company’s fifty day moving average is $811.59 and its 200-day moving average is $800.24. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $126.99 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. BlackRock’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $9.28 earnings per share. On average, sell-side analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.39%. BlackRock’s payout ratio is 51.84%.

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.