BlackRock $BLK Shares Purchased by CW Advisors LLC

CW Advisors LLC grew its position in shares of BlackRock (NYSE:BLK) by 59.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,701 shares of the asset manager’s stock after buying an additional 1,754 shares during the period. CW Advisors LLC’s holdings in BlackRock were worth $4,934,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BLK. Welch Group LLC boosted its holdings in BlackRock by 1.2% in the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after purchasing an additional 9 shares during the period. Stanley Laman Group Ltd. boosted its holdings in shares of BlackRock by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock valued at $357,000 after buying an additional 9 shares during the period. CNB Bank grew its position in shares of BlackRock by 9.6% during the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock valued at $108,000 after buying an additional 9 shares during the last quarter. Magellan Asset Management Ltd raised its stake in BlackRock by 14.3% during the second quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock worth $76,000 after acquiring an additional 9 shares during the period. Finally, McLean Asset Management Corp lifted its holdings in BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after acquiring an additional 10 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the business’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 directly owned 7,205 shares in the company, valued at approximately $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Small sold 1,258 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the transaction, the chief financial officer owned 6,209 shares of the company’s stock, valued at approximately $6,478,346.42. This trade represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Evercore ISI upped their target price on BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. BMO Capital Markets upped their price objective 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. TD Cowen raised their target price on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a report on Monday. Finally, Loop Capital set a $1,255.00 price objective on shares of BlackRock in a report on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,302.59.

BlackRock Price Performance

NYSE BLK opened at $1,071.87 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94. The firm has a market capitalization of $166.30 billion, a PE ratio of 27.56, a P/E/G ratio of 1.62 and a beta of 1.47. The company’s 50 day simple moving average is $1,100.03 and its 200 day simple moving average is $1,083.82. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) 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 14.80%. The firm had revenue of $6.51 billion for 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 business’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors 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 yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s payout ratio is presently 53.59%.

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.