HB Wealth Management LLC Acquires 105 Shares of BlackRock, Inc. (NYSE:BLK)

HB Wealth Management LLC boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,417 shares of the asset manager’s stock after buying an additional 105 shares during the period. HB Wealth Management LLC’s holdings in BlackRock were worth $2,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Blueprint LLC boosted its position in BlackRock by 19.1% during the second quarter. Strategic Blueprint LLC now owns 673 shares of the asset manager’s stock worth $530,000 after purchasing an additional 108 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of BlackRock by 4.4% in the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after acquiring an additional 13 shares during the period. Whitaker Myers Wealth Managers LTD. bought a new stake in BlackRock during the second quarter worth about $203,000. Detalus Advisors LLC bought a new stake in BlackRock during the second quarter worth about $313,000. Finally, Conning Inc. raised its stake in BlackRock by 0.5% during the second quarter. Conning Inc. now owns 46,095 shares of the asset manager’s stock worth $36,235,000 after acquiring an additional 210 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 81,042 shares of company stock valued at $68,587,117 in the last quarter. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley lowered their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Barclays assumed coverage on BlackRock in a research report on Tuesday. They issued an “overweight” rating and a $985.00 price target for the company. TD Cowen lowered their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $881.47.

BlackRock Price Performance

Shares of BlackRock stock traded up $0.64 during trading on Thursday, hitting $889.30. The stock had a trading volume of 92,173 shares, compared to its average volume of 588,631. The firm has a market cap of $132.15 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 1.92 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average is $832.57 and its 200 day moving average is $806.64. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $895.44.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.28 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.29%. BlackRock’s dividend payout ratio is currently 51.84%.

About BlackRock

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.