Silverlake Wealth Management LLC Purchases 45 Shares of BlackRock, Inc. (NYSE:BLK)

Silverlake Wealth Management LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 11.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 432 shares of the asset manager’s stock after purchasing an additional 45 shares during the period. Silverlake Wealth Management LLC’s holdings in BlackRock were worth $360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after acquiring an additional 749,654 shares during the period. Capital World Investors grew its position in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Morgan Stanley increased its holdings in BlackRock by 3.2% during the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after buying an additional 104,844 shares during the last quarter. Capital International Investors raised its position in BlackRock by 2.4% in the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares during the period. Finally, Norges Bank bought a new position in shares of BlackRock during the 4th quarter valued at approximately $1,812,920,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the business’s 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 owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

NYSE:BLK opened at $789.13 on Wednesday. The firm has a market capitalization of $117.26 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock has a fifty day moving average of $779.77 and a 200 day moving average of $792.86. 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 during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.93 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley increased their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $844.17.

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.