Curi Capital LLC Raises Stake in BlackRock $BLK

Curi Capital LLC increased its holdings in shares of BlackRock (NYSE:BLK) by 34.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,782 shares of the asset manager’s stock after acquiring an additional 7,685 shares during the period. Curi Capital LLC’s holdings in BlackRock were worth $31,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Brighton Jones LLC raised its stake in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares during the last quarter. Bison Wealth LLC grew its stake in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after acquiring an additional 17 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of BlackRock by 5.9% during the first quarter. E Fund Management Co. Ltd. now owns 374 shares of the asset manager’s stock valued at $354,000 after acquiring an additional 21 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of BlackRock by 89.4% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 8,834 shares of the asset manager’s stock worth $8,361,000 after purchasing an additional 4,171 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in BlackRock by 43.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 20,751 shares of the asset manager’s stock worth $19,641,000 after purchasing an additional 6,237 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,088.99 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The company has a market capitalization of $168.96 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.72 and a beta of 1.47. The firm’s 50 day simple moving average is $1,092.11 and its two-hundred day simple moving average is $1,087.56.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 14.80%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the previous year, the firm earned $11.46 earnings per share. BlackRock’s revenue was up 25.2% on a year-over-year basis. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s payout ratio is 53.59%.

Insider Buying and Selling

In related news, CFO Martin Small sold 1,258 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the sale, the chief financial officer owned 6,209 shares of the company’s stock, valued at $6,478,346.42. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the completion of the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on BLK shares. Citigroup raised their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Jefferies Financial Group upped their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Loop Capital set a $1,255.00 target price on BlackRock in a research note on Tuesday, October 21st. Finally, TD Cowen boosted their price target on BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,313.65.

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.