Simplicity Wealth LLC bought a new position in BlackRock (NYSE:BLK – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 550 shares of the asset manager’s stock, valued at approximately $578,000.
Several other institutional investors and hedge funds have also modified their holdings of BLK. Fairway Wealth LLC lifted its holdings in 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 buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted 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 buying an additional 15 shares in the last quarter. Garde Capital Inc. lifted 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 buying an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter worth $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock during the 1st quarter worth $31,000. 80.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on BLK shares. Jefferies Financial Group upped their price objective on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. UBS Group reiterated a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of BlackRock from $1,224.00 to $1,362.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, Barclays upped their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,222.87.
BlackRock Price Performance
BLK opened at $1,166.90 on Wednesday. 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 has a fifty day simple moving average of $1,131.84 and a 200 day simple moving average of $1,031.25. The stock has a market cap of $180.69 billion, a P/E ratio of 28.21, a P/E/G ratio of 2.22 and a beta of 1.45.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the company earned $10.36 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that BlackRock will post 47.41 EPS for the current year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given 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 is currently 50.39%.
Insider Activity
In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.
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.
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