Vanguard Personalized Indexing Management LLC Buys 1,521 Shares of BlackRock, Inc. (NYSE:BLK)

18 Sep 2024, 19:14 by Kim Johansen · The Markets Daily

Vanguard Personalized Indexing Management LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 13.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,126 shares of the asset manager’s stock after buying an additional 1,521 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in BlackRock were worth $10,225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BLK. Capital World Investors raised its position in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares during the last quarter. Capital Research Global Investors raised its position in shares of BlackRock by 23.7% in the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after purchasing an additional 749,654 shares during the last quarter. Mayflower Financial Advisors LLC raised its position in shares of BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after purchasing an additional 414,300 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of BlackRock by 1,829.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 297,985 shares of the asset manager’s stock worth $241,904,000 after purchasing an additional 282,543 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Up 1.1 %

BLK stock opened at $904.83 on Wednesday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $908.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market capitalization of $134.46 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.92 and a beta of 1.30. The business has a 50 day simple moving average of $862.13 and a two-hundred day simple moving average of $815.73.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $9.28 EPS. Research analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.25%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Activity at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on 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 sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on 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 sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction 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 owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,042 shares of company stock worth $79,387,117. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Barclays boosted their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Morgan Stanley decreased their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, UBS Group cut their price target 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $902.13.

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