BlackRock, Inc. (NYSE:BLK) Shares Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,981 shares of the asset manager’s stock after buying an additional 258 shares during the quarter. BlackRock makes up about 0.9% of Beverly Hills Private Wealth LLC’s holdings, making the stock its 28th largest position. Beverly Hills Private Wealth LLC’s holdings in BlackRock were worth $3,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Gilbert & Cook Inc. raised its stake in shares of BlackRock by 4.8% during the 4th quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after buying an additional 62 shares during the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of BlackRock during the 4th quarter worth $354,000. Avantax Advisory Services Inc. raised its stake in shares of BlackRock by 2.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,037 shares of the asset manager’s stock worth $4,089,000 after buying an additional 97 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of BlackRock by 4.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 938 shares of the asset manager’s stock worth $737,000 after buying an additional 43 shares during the last quarter. Finally, Apexium Financial LP acquired a new position in shares of BlackRock during the 4th quarter worth $339,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.8 %

Shares of BLK stock opened at $877.12 on Thursday. The stock has a 50-day simple moving average of $854.14 and a 200 day simple moving average of $813.31. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46. The stock has a market capitalization of $130.34 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.89 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the business posted $9.28 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the company’s 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 completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was 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 directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last three months. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several analyst reports. Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley cut their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods lifted their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. UBS Group lowered their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $883.47.

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.