Thrive Wealth Management LLC Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Thrive Wealth Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 361 shares of the asset manager’s stock after acquiring an additional 47 shares during the quarter. Thrive Wealth Management LLC’s holdings in BlackRock were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BLK. Abacus Planning Group Inc. boosted its holdings in BlackRock by 4.0% in the 4th quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after buying an additional 13 shares during the period. Knuff & Co LLC grew its stake in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. Everhart Financial Group Inc. increased its holdings in BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares during the last quarter. Spreng Capital Management Inc. boosted its holdings in shares of BlackRock by 1.1% during the 4th quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after purchasing an additional 14 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in shares of BlackRock by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.8 %

Shares of BLK traded down $6.32 during mid-day trading on Thursday, hitting $781.13. The company’s stock had a trading volume of 428,427 shares, compared to its average volume of 604,699. The firm has a market capitalization of $116.08 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.64 and a beta of 1.34. The company’s 50-day moving average is $777.90 and its 200-day moving average is $792.50. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.93 EPS. On average, equities research analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, June 7th. BlackRock’s payout ratio is currently 51.84%.

Analyst Ratings Changes

A number of brokerages recently commented on BLK. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, UBS Group increased their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $845.42.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.