JFS Wealth Advisors LLC Purchases 10 Shares of BlackRock $BLK

JFS Wealth Advisors LLC grew its position in BlackRock (NYSE:BLK) by 2.6% in the second quarter, Holdings Channel.com reports. The fund owned 389 shares of the asset manager’s stock after buying an additional 10 shares during the period. JFS Wealth Advisors LLC’s holdings in BlackRock were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BLK. Brighton Jones LLC lifted its position in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after acquiring an additional 296 shares during the period. Bison Wealth LLC lifted its position in shares of BlackRock by 1.6% in the 4th 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 period. Wealthcare Advisory Partners LLC bought a new stake in shares of BlackRock in the 1st quarter worth approximately $674,000. GAMMA Investing LLC lifted its position in shares of BlackRock by 10.6% in the 1st quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager’s stock worth $3,500,000 after acquiring an additional 355 shares during the period. Finally, CX Institutional lifted its position in shares of BlackRock by 6.6% in the 1st quarter. CX Institutional now owns 471 shares of the asset manager’s stock worth $446,000 after acquiring an additional 29 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of several analyst reports. Barclays raised their target price on BlackRock from $1,210.00 to $1,310.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their target price on 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. TD Cowen raised their target price on BlackRock from $1,252.00 to $1,301.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets started coverage on BlackRock in a research report on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 target price for the company. Finally, Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,258.56.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Trading Down 3.0%

Shares of BLK opened at $1,132.12 on Friday. The stock has a fifty day moving average price of $1,134.85 and a two-hundred day moving average price of $1,035.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,184.13. The company 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.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company posted $10.36 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders 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 annualized dividend and a yield of 1.8%. BlackRock’s 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.