BlackRock $BLK Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its stake in shares of BlackRock (NYSE:BLK) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 729 shares of the asset manager’s stock after purchasing an additional 100 shares during the quarter. Geneos Wealth Management Inc.’s holdings in BlackRock were worth $690,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC increased its stake in 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 purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in 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 purchasing an additional 15 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in BlackRock during the 4th quarter valued at approximately $30,000. Cheviot Value Management LLC acquired a new position in BlackRock during the 1st quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.9%

Shares of BlackRock stock opened at $1,124.34 on Friday. The firm has a 50-day simple moving average of $1,115.88 and a two-hundred day simple moving average of $1,007.38. The company has a market cap of $174.10 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. 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 (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.36 earnings per share. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is 50.39%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BLK shares. Jefferies Financial Group increased their price objective on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Evercore ISI increased their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America increased their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,154.07.

Insider Activity at BlackRock

In other BlackRock 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 transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Company 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.