Rational Advisors LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 345 shares of the asset manager’s stock, valued at approximately $238,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Geneos Wealth Management Inc. grew its position in BlackRock by 11.6% during the second quarter. Geneos Wealth Management Inc. now owns 798 shares of the asset manager’s stock valued at $551,000 after buying an additional 83 shares during the period. Edge Capital Group LLC grew its position in shares of BlackRock by 20.2% during the 2nd quarter. Edge Capital Group LLC now owns 589 shares of the asset manager’s stock valued at $407,000 after acquiring an additional 99 shares during the period. ML & R Wealth Management LLC increased its stake in shares of BlackRock by 104.2% in the 2nd quarter. ML & R Wealth Management LLC now owns 833 shares of the asset manager’s stock worth $576,000 after purchasing an additional 425 shares in the last quarter. Synovus Financial Corp raised its holdings in BlackRock by 1.4% in the 2nd quarter. Synovus Financial Corp now owns 5,360 shares of the asset manager’s stock worth $3,704,000 after purchasing an additional 72 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in BlackRock by 24.2% during the second quarter. Kestra Private Wealth Services LLC now owns 8,201 shares of the asset manager’s stock valued at $5,668,000 after purchasing an additional 1,598 shares during the period. 77.01% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on BlackRock from $820.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 4th. Citigroup lifted their price target on shares of BlackRock from $750.00 to $815.00 and gave the company a “buy” rating in a report on Friday, July 14th. Bank of America reduced their price objective on shares of BlackRock from $921.00 to $868.00 in a research note on Wednesday, October 4th. Morgan Stanley lifted their target price on shares of BlackRock from $836.00 to $897.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Finally, Jefferies Financial Group cut their price target on BlackRock from $781.00 to $754.00 in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $764.75.
View Our Latest Analysis on BLK
Insider Transactions at BlackRock
In related news, CEO Laurence Fink sold 15,385 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $652.03, for a total value of $10,031,481.55. Following the completion of the transaction, the chief executive officer now owns 435,260 shares of the company’s stock, valued at approximately $283,802,577.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.
BlackRock Trading Up 2.1 %
Shares of BLK stock opened at $665.31 on Friday. The company has a current ratio of 3.72, a quick ratio of 4.21 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $99.33 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $785.65. The stock’s 50-day moving average price is $651.45 and its 200-day moving average price is $674.59.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Friday, October 13th. The asset manager reported $10.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.34 by $2.57. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.55 EPS. Equities research analysts predict that BlackRock, Inc. will post 36.43 EPS for the current fiscal year.
BlackRock Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, December 7th will be paid a $5.00 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 3.01%. BlackRock’s payout ratio is currently 56.10%.
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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