BlackRock, Inc. (NYSE:BLK) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 482 shares of the asset manager’s stock after purchasing an additional 24 shares during the period. EverSource Wealth Advisors LLC’s holdings in BlackRock were worth $379,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in BlackRock in the first quarter valued at approximately $27,000. Pineridge Advisors LLC purchased a new position in BlackRock during the fourth quarter worth approximately $28,000. Fairscale Capital LLC purchased a new position in BlackRock during the second quarter worth approximately $31,000. Lam Group Inc. purchased a new position in BlackRock during the first quarter worth approximately $33,000. Finally, Fairman Group LLC purchased a new position in BlackRock during the fourth quarter worth approximately $35,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.4 %

BLK opened at $941.23 on Wednesday. The stock has a market capitalization of $139.87 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The business has a fifty day moving average price of $872.80 and a 200 day moving average price of $819.29. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $942.73.

BlackRock (NYSE:BLK) last announced its quarterly earnings results 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 company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.28 EPS. Sell-side analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Analysts Set New Price Targets

Several research firms have issued reports on BLK. Keefe, Bruyette & Woods raised their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen cut their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Citigroup lifted their price objective on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company started coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $902.13.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated 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 approximately $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’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 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 disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. Insiders own 0.90% of the company’s stock.

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.