Virginia Wealth Management Group Inc. Acquires 1,029 Shares of BlackRock, Inc. (NYSE:BLK)

Virginia Wealth Management Group Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 26.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,869 shares of the asset manager’s stock after acquiring an additional 1,029 shares during the period. BlackRock comprises about 2.9% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 10th biggest position. Virginia Wealth Management Group Inc.’s holdings in BlackRock were worth $4,623,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in BLK. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 1st quarter valued at about $27,000. Pineridge Advisors LLC acquired a new position in BlackRock in the fourth quarter valued at about $28,000. Fairscale Capital LLC acquired a new position in BlackRock in the second quarter valued at about $31,000. Lam Group Inc. acquired a new position in BlackRock in the first quarter valued at about $33,000. Finally, Fairman Group LLC acquired a new position in BlackRock in the fourth quarter valued at about $35,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 3.3 %

Shares of BLK traded up $31.22 on Friday, reaching $986.81. 216,356 shares of the company’s stock were exchanged, compared to its average volume of 573,048. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $989.10. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $146.64 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The business has a 50 day moving average price of $896.50 and a two-hundred day moving average price of $830.08.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.30 by $1.16. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 41.73 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BLK. Evercore ISI boosted their price target on shares of BlackRock from $945.00 to $995.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. UBS Group reduced their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company upped their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com initiated coverage on shares of BlackRock in a research report on Friday, October 4th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $972.23.

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.