RWA Wealth Partners LLC Has $25.76 Million Stock Position in BlackRock $BLK

RWA Wealth Partners LLC lessened its position in shares of BlackRock (NYSE:BLK) by 1.1% in the second quarter, HoldingsChannel.com reports. The firm owned 24,549 shares of the asset manager’s stock after selling 264 shares during the quarter. RWA Wealth Partners LLC’s holdings in BlackRock were worth $25,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of BlackRock by 107.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares in the last quarter. Game Plan Financial Advisors LLC grew its position in shares of 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 during the period. Creekmur Asset Management LLC lifted its position in shares of BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 14 shares during the period. Finally, Mid American Wealth Advisory Group Inc. bought a new position in BlackRock during the second quarter worth $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

BLK stock opened at $1,081.66 on Friday. The firm has a 50 day moving average of $1,130.62 and a 200-day moving average of $1,068.02. The firm has a market capitalization of $167.50 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a current ratio of 4.04, a quick 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 $1,219.94.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the business posted $11.46 EPS. As a group, sell-side analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BLK shares. Barclays increased their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. BNP Paribas Exane boosted their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. upped their target price on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research report on Thursday, October 2nd. Argus raised their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Citigroup lifted their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,299.29.

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.