Evermay Wealth Management LLC Buys 10 Shares of BlackRock $BLK

Evermay Wealth Management LLC grew its stake in BlackRock (NYSE:BLK) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 341 shares of the asset manager’s stock after acquiring an additional 10 shares during the quarter. Evermay Wealth Management LLC’s holdings in BlackRock were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Royal Bank of Canada raised its stake in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after acquiring an additional 111,694 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in BlackRock by 13.2% in the first quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock worth $882,970,000 after purchasing an additional 108,473 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLK shares. Barclays raised 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. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Citigroup upped their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Finally, Evercore ISI boosted their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,300.81.

BlackRock Stock Performance

NYSE BLK opened at $1,161.63 on Monday. The firm has a market capitalization of $179.88 billion, a P/E ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. The stock has a 50-day simple moving average of $1,140.85 and a two-hundred day simple moving average of $1,043.90. 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 fifty-two week low of $773.74 and a fifty-two week high of $1,219.94.

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

BlackRock Announces Dividend

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

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.