Hudson Edge Investment Partners Inc. Purchases Shares of 1,792 BlackRock, Inc. (NYSE:BLK)

Hudson Edge Investment Partners Inc. acquired a new position in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,792 shares of the asset manager’s stock, valued at approximately $1,411,000.

Several other institutional investors have also added to or reduced their stakes in BLK. XML Financial LLC boosted its stake in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 13 shares during the last quarter. Forza Wealth Management LLC grew its holdings in BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after acquiring an additional 13 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of BlackRock by 4.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after acquiring an additional 13 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in shares of BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 13 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Down 1.1 %

Shares of BLK stock traded down $9.72 during trading hours on Friday, reaching $866.92. The company had a trading volume of 748,945 shares, compared to its average volume of 587,817. The company has a market cap of $128.82 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $903.46. The business has a fifty day simple moving average of $848.57 and a 200-day simple moving average of $811.87.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $9.28 EPS. On average, research analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.35%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. Citigroup lifted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Barclays initiated coverage on shares of BlackRock in a research note on Tuesday, August 27th. They set an “overweight” rating and a $985.00 target price on the stock. TD Cowen dropped their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, UBS Group reduced their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $883.13.

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.