Drucker Wealth 3.0 LLC Sells 500 Shares of BlackRock $BLK

Drucker Wealth 3.0 LLC lowered its stake in BlackRock (NYSE:BLK) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,300 shares of the asset manager’s stock after selling 500 shares during the quarter. BlackRock makes up approximately 0.9% of Drucker Wealth 3.0 LLC’s investment portfolio, making the stock its 27th largest position. Drucker Wealth 3.0 LLC’s holdings in BlackRock were worth $4,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Securian Asset Management Inc. bought a new position in shares of BlackRock in the first quarter worth about $7,331,000. Prudent Man Advisors LLC bought a new position in shares of BlackRock in the first quarter worth about $2,018,000. Allianz SE increased its stake in shares of BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after buying an additional 277 shares during the period. Arizona State Retirement System bought a new position in BlackRock in the 1st quarter valued at approximately $40,868,000. Finally, Community Financial Services Group LLC raised its holdings in BlackRock by 17.2% in the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after buying an additional 836 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Down 3.0%

BlackRock stock opened at $1,132.12 on Friday. 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 $1,184.13. The firm has a 50 day moving average price of $1,134.85 and a two-hundred day moving average price of $1,034.64. The firm has a market cap of $175.31 billion, a price-to-earnings ratio of 27.37, a PEG 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business earned $10.36 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders 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 dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is 50.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLK. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,221.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. The Goldman Sachs Group raised their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Bank of America raised their price objective on shares of BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued 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 target price of $1,258.56.

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.