Canopy Partners LLC Has $1.39 Million Stock Position in BlackRock $BLK

Canopy Partners LLC increased its position in shares of BlackRock (NYSE:BLK) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,329 shares of the asset manager’s stock after purchasing an additional 37 shares during the quarter. Canopy Partners LLC’s holdings in BlackRock were worth $1,394,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BLK. Fairway Wealth LLC increased its position in shares of BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the last quarter. Garde Capital Inc. grew its holdings in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new stake in BlackRock during the 1st quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in BlackRock during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,166.90 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $180.69 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company’s 50 day moving average price is $1,131.84 and its two-hundred day moving average price is $1,031.25. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $10.36 EPS. On average, analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is 50.39%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. UBS Group reaffirmed a “neutral” rating and issued a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Jefferies Financial Group raised their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,222.87.

About BlackRock

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.