Colton Groome Financial Advisors LLC Buys 25 Shares of BlackRock $BLK

Colton Groome Financial Advisors LLC boosted its stake in shares of BlackRock (NYSE:BLK) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,087 shares of the asset manager’s stock after buying an additional 25 shares during the period. Colton Groome Financial Advisors LLC’s holdings in BlackRock were worth $1,141,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares in the last quarter. GAMMA Investing LLC raised its holdings in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after buying an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after buying an additional 111,694 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

BLK opened at $1,146.33 on Friday. The company’s 50 day moving average is $1,123.70 and its 200 day moving average is $1,018.07. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $177.51 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.16 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89.

BlackRock (NYSE:BLK) last released its quarterly 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 net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $10.36 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a dividend of $5.21 per share. 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 payout ratio is 50.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLK shares. Jefferies Financial Group upped their price objective on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. UBS Group restated a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.

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.