BlackRock $BLK Shares Acquired by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA boosted its stake in BlackRock (NYSE:BLKFree Report) by 53.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,422 shares of the asset manager’s stock after purchasing an additional 496 shares during the quarter. Orleans Capital Management Corp LA’s holdings in BlackRock were worth $1,368,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corient Private Wealth LLC grew its stake in shares of BlackRock by 5,190.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after buying an additional 5,386,640 shares during the period. Norges Bank purchased a new position in shares of BlackRock in the 4th quarter worth $2,742,680,000. Oak Harvest Investment Services raised its position in shares of BlackRock by 12,176.1% in the 4th quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock worth $1,707,356,000 after buying an additional 1,582,159 shares during the period. Auto Owners Insurance Co boosted its holdings in BlackRock by 106,934.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,284,408 shares of the asset manager’s stock valued at $128,441,000 after acquiring an additional 1,283,208 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in BlackRock by 200.5% during the fourth quarter. Wellington Management Group LLP now owns 1,451,122 shares of the asset manager’s stock valued at $1,553,194,000 after acquiring an additional 968,245 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

BlackRock Trading Down 1.7%

Shares of BLK opened at $1,039.14 on Friday. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock’s 50-day moving average is $1,030.01 and its two-hundred day moving average is $1,041.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.09 and a quick ratio of 4.09. The stock has a market cap of $161.06 billion, a PE ratio of 24.84, a P/E/G ratio of 1.19 and a beta of 1.43.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a return on equity of 15.01% and a net margin of 24.09%.The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm earned $12.05 earnings per share. Equities analysts forecast that BlackRock will post 55.63 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be given a $5.73 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $22.92 annualized dividend and a yield of 2.2%. BlackRock’s dividend payout ratio (DPR) is 54.78%.

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. Evercore restated an “outperform” rating and set a $1,145.00 price target on shares of BlackRock in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on BlackRock from $1,275.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded BlackRock from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. TD Cowen cut their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Finally, Jefferies Financial Group reduced their price target on shares of BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $1,304.29.

Get Our Latest Research Report on BLK

Insider Buying and Selling

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the sale, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the transaction, the president directly owned 210,186 shares in the company, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.92% of the company’s stock.

About BlackRock

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.