BKM Wealth Management LLC Has $3.79 Million Holdings in BlackRock $BLK

BKM Wealth Management LLC cut its holdings in shares of BlackRock (NYSE:BLK) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,607 shares of the asset manager’s stock after selling 112 shares during the quarter. BlackRock accounts for about 1.5% of BKM Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. BKM Wealth Management LLC’s holdings in BlackRock were worth $3,785,000 as of its most recent SEC filing.

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

BlackRock Stock Down 0.8%

Shares of BLK stock opened at $1,161.63 on Friday. The stock’s 50 day simple moving average is $1,140.85 and its 200 day simple moving average is $1,042.82. 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 twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market capitalization of $179.88 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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 net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the business posted $11.46 earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis. As a group, research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

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

Wall Street Analyst Weigh In

BLK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on BlackRock and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lifted their price target on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a report on Wednesday. Argus lifted their price target on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Cowen reiterated a “buy” rating on shares of BlackRock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,300.81.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at $296,002,472.28. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock 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 value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Corporate insiders own 1.98% of the company’s stock.

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.