Pegasus Asset Management Inc. Has $7.94 Million Holdings in BlackRock $BLK

Pegasus Asset Management Inc. boosted its position in shares of BlackRock (NYSE:BLK) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,567 shares of the asset manager’s stock after purchasing an additional 159 shares during the period. BlackRock comprises 2.7% of Pegasus Asset Management Inc.’s holdings, making the stock its 14th largest position. Pegasus Asset Management Inc.’s holdings in BlackRock were worth $7,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. grew its holdings in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its stake in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $31,000. Finally, Cheviot Value Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $30,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on BLK shares. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Evercore ISI raised their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays raised their price objective on shares of BlackRock from $1,210.00 to $1,310.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, TD Cowen raised their price objective on BlackRock from $1,252.00 to $1,301.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,258.56.

BlackRock Price Performance

BLK stock opened at $1,132.12 on Monday. The firm has a market cap of $175.31 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.15 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13. The company’s fifty day simple moving average is $1,134.85 and its 200 day simple moving average is $1,035.56.

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

BlackRock Announces Dividend

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

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.