Foundations Investment Advisors LLC Has $714,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Foundations Investment Advisors LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 907 shares of the asset manager’s stock after purchasing an additional 54 shares during the period. Foundations Investment Advisors LLC’s holdings in BlackRock were worth $714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BLK. Vanguard Group Inc. increased its stake in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the period. Capital Research Global Investors raised its stake in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Capital World Investors lifted its position in BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares during the period. Capital International Investors boosted its stake in BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank bought a new stake in BlackRock in the 4th quarter valued at $1,812,920,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Down 1.1 %

Shares of NYSE BLK opened at $866.92 on Friday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The company has a 50-day moving average of $848.57 and a two-hundred day moving average of $811.77. The company has a market cap of $128.82 billion, a PE ratio of 22.03, a P/E/G ratio of 1.97 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.28 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.35%. BlackRock’s payout ratio is 51.84%.

Insiders Place Their Bets

In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction on Friday, August 2nd. The stock was 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 $4,826,802.56. The disclosure for this sale can be found here. In the last three months, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLK. Argus lifted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI raised their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.13.

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.