Agate Pass Investment Management LLC Purchases 91 Shares of BlackRock $BLK

Agate Pass Investment Management LLC raised its position in shares of BlackRock (NYSE:BLK) by 12.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 795 shares of the asset manager’s stock after acquiring an additional 91 shares during the period. Agate Pass Investment Management LLC’s holdings in BlackRock were worth $834,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in shares of BlackRock by 2.6% during the second quarter. JFS Wealth Advisors LLC now owns 389 shares of the asset manager’s stock worth $408,000 after acquiring an additional 10 shares during the period. First Fiduciary Investment Counsel Inc. boosted its holdings in shares of BlackRock by 0.8% during the second quarter. First Fiduciary Investment Counsel Inc. now owns 23,057 shares of the asset manager’s stock worth $24,193,000 after acquiring an additional 177 shares during the period. Blue Zone Wealth Advisors LLC boosted its holdings in shares of BlackRock by 7.1% during the second quarter. Blue Zone Wealth Advisors LLC now owns 5,247 shares of the asset manager’s stock worth $5,505,000 after acquiring an additional 348 shares during the period. Strong Tower Advisory Services boosted its holdings in shares of BlackRock by 3.3% during the second quarter. Strong Tower Advisory Services now owns 3,380 shares of the asset manager’s stock worth $3,546,000 after acquiring an additional 107 shares during the period. Finally, PDS Planning Inc boosted its holdings in shares of BlackRock by 9.4% during the second quarter. PDS Planning Inc now owns 944 shares of the asset manager’s stock worth $990,000 after acquiring an additional 81 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last quarter. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLK shares. Barclays boosted their price objective on BlackRock from $1,210.00 to $1,310.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI boosted their price target on BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets assumed coverage on BlackRock in a research note on Friday, October 3rd. They issued an “outperform” rating and a $1,280.00 price target for the company. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,258.56.

BlackRock Stock Down 3.0%

NYSE BLK opened at $1,132.12 on Friday. The business has a fifty day moving average price of $1,134.85 and a two-hundred day moving average price of $1,034.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,184.13. The stock has a market capitalization of $175.31 billion, a PE ratio of 27.37, a PEG ratio of 2.22 and a beta of 1.45.

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

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid 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 presently 50.39%.

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.