Perennial Investment Advisors LLC Acquires 85 Shares of BlackRock, Inc. (NYSE:BLK)

Perennial Investment Advisors LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 19.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 530 shares of the asset manager’s stock after acquiring an additional 85 shares during the quarter. Perennial Investment Advisors LLC’s holdings in BlackRock were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of BLK. XML Financial LLC increased its position in shares of BlackRock by 2.6% in the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after buying an additional 12 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares in the last quarter. Forza Wealth Management LLC increased its position in shares of BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after buying an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after buying an additional 13 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position in shares of BlackRock by 17.1% in the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after buying an additional 13 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 27,000 shares of BlackRock 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 approximately $5,407,041.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of BLK 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 stock has a market cap of $134.46 billion, a PE ratio of 22.99, a P/E/G ratio of 1.92 and a beta of 1.30. The firm has a 50-day simple moving average of $862.13 and a two-hundred day simple moving average of $815.73. 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 (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the business earned $9.28 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

BLK has been the subject of several research reports. Citigroup boosted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company initiated coverage on BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

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.