Creative Planning Has $17.21 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Creative Planning increased its holdings in BlackRock, Inc. (NYSE:BLK) by 1.0% during the second quarter, HoldingsChannel reports. The fund owned 21,864 shares of the asset manager’s stock after acquiring an additional 208 shares during the quarter. Creative Planning’s holdings in BlackRock were worth $17,214,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. XML Financial LLC boosted its holdings in BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after purchasing an additional 12 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after purchasing an additional 13 shares in the last quarter. Forza Wealth Management LLC grew its position in shares of BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after purchasing an additional 13 shares in the last quarter. 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. Finally, Tortoise Investment Management LLC increased its stake in BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after acquiring an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock valued at $79,387,117 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on BLK shares. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Evercore ISI increased their price objective on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Barclays lifted their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company assumed coverage on shares of BlackRock in a research report on Thursday, September 12th. They set 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Price Performance

BLK stock opened at $949.50 on Tuesday. The business’s fifty day moving average price is $881.47 and its 200 day moving average price is $822.72. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $952.75. The company has a market capitalization of $141.10 billion, a PE ratio of 24.13, a P/E/G ratio of 2.05 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.28 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, September 9th. BlackRock’s 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.