Hazlett Burt & Watson Inc. Purchases 30 Shares of BlackRock, Inc. (NYSE:BLK)

Hazlett Burt & Watson Inc. raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 492 shares of the asset manager’s stock after acquiring an additional 30 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in BlackRock were worth $388,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock during the first quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new position in shares of BlackRock during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC bought a new position in BlackRock during the fourth quarter worth $28,000. Lam Group Inc. acquired a new stake in shares of BlackRock in the 1st quarter valued at about $33,000. Finally, Fairman Group LLC bought a new stake in BlackRock in the 4th quarter valued at about $35,000. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BLK shares. Morgan Stanley decreased their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price target 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 raised their price objective on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI boosted their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $883.47.

Insider Buying and Selling

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

NYSE BLK opened at $883.79 on Wednesday. The company has a market capitalization of $131.33 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $903.46. The company has a 50-day simple moving average of $852.38 and a 200 day simple moving average of $812.86.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 EPS. BlackRock’s revenue was up 7.7% on a year-over-year basis. On average, research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid 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 2.31%. BlackRock’s payout ratio is 51.84%.

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.