BlackRock, Inc. (NYSE:BLK) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management raised its stake in BlackRock, Inc. (NYSE:BLK) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,466 shares of the asset manager’s stock after buying an additional 114 shares during the quarter. Financial Advocates Investment Management’s holdings in BlackRock were worth $1,154,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its position in BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after buying an additional 40 shares during the period. Zhang Financial LLC lifted its stake in BlackRock by 24.0% in the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after acquiring an additional 171 shares during the last quarter. California State Teachers Retirement System increased its position in shares of BlackRock by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after purchasing an additional 1,647 shares during the last quarter. Farrow Financial Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at $2,228,000. Finally, Axxcess Wealth Management LLC grew its stake in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold 81,042 shares of company stock valued at $68,587,117 in the last quarter. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays assumed coverage on BlackRock in a report on Tuesday. They set an “overweight” rating and a $985.00 price target on the stock. Morgan Stanley dropped their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup upped their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $881.47.

BlackRock Stock Up 0.8 %

BLK stock opened at $895.59 on Friday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $898.66. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $133.08 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The firm’s 50-day simple moving average is $834.67 and its 200 day simple moving average is $807.21.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $9.28 EPS. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.28%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.