CreativeOne Wealth LLC Has $1.53 Million Stock Position in BlackRock $BLK

CreativeOne Wealth LLC lifted its holdings in shares of BlackRock (NYSE:BLK) by 42.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,461 shares of the asset manager’s stock after purchasing an additional 434 shares during the period. CreativeOne Wealth LLC’s holdings in BlackRock were worth $1,534,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of BlackRock by 72.5% in the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after buying an additional 842,901 shares during the period. Royal Bank of Canada boosted its holdings in BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. Vanguard Group Inc. increased its position in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the period. Goldman Sachs Group Inc. raised its holdings in BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after purchasing an additional 279,336 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $231,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 1.1%

Shares of NYSE:BLK opened at $1,041.18 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The business’s 50 day simple moving average is $1,111.74 and its two-hundred day simple moving average is $1,080.58. The firm has a market cap of $161.54 billion, a P/E ratio of 26.77, a PEG ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the company earned $11.46 earnings per share. BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 53.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Barclays lifted their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Argus boosted their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. BMO Capital Markets raised their target price on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. boosted their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,302.59.

Insider Activity at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is currently owned by insiders.

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.