BlackRock $BLK Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc lifted its stake in shares of BlackRock (NYSE:BLK) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 312 shares of the asset manager’s stock after purchasing an additional 12 shares during the quarter. Financial Perspectives Inc’s holdings in BlackRock were worth $327,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC grew its stake in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Garde Capital Inc. grew its stake in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $31,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction 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 directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BLK shares. Morgan Stanley upped their target price on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday, October 8th. Argus upped their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets started coverage on shares of BlackRock in a report on Friday, October 3rd. They issued an “outperform” rating and a $1,280.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,300.81.

BlackRock Stock Performance

Shares of BLK stock opened at $1,161.63 on Monday. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a 50 day moving average price of $1,140.85 and a 200 day moving average price of $1,043.90. The firm has a market capitalization of $179.88 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45.

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

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s dividend payout ratio is 53.59%.

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.