BlackRock $BLK Shares Acquired by IFP Advisors Inc

IFP Advisors Inc lifted its holdings in shares of BlackRock (NYSE:BLK) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,318 shares of the asset manager’s stock after purchasing an additional 194 shares during the quarter. IFP Advisors Inc’s holdings in BlackRock were worth $2,480,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares in the last quarter. Fairway Wealth LLC boosted its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in BlackRock in the first quarter valued at approximately $31,000. Finally, Cheviot Value Management LLC acquired a new position in BlackRock in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the transaction, the chief executive officer directly owned 251,697 shares in the company, valued at $283,267,354.71. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BLK shares. JPMorgan Chase & Co. upped their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday. Citigroup boosted their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods reduced their price objective on 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. Finally, TD Cowen boosted their price objective on BlackRock from $1,252.00 to $1,301.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,258.56.

BlackRock Price Performance

BlackRock stock opened at $1,132.12 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,184.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business has a 50 day simple moving average of $1,134.85 and a 200-day simple moving average of $1,034.64. The stock has a market capitalization of $175.31 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $10.36 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio is 50.39%.

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.