BIP Wealth LLC Acquires 14 Shares of BlackRock (NYSE:BLK)

BIP Wealth LLC grew its holdings in shares of BlackRock (NYSE:BLK) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286 shares of the asset manager’s stock after acquiring an additional 14 shares during the period. BIP Wealth LLC’s holdings in BlackRock were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Brighton Jones LLC increased its stake in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of BlackRock by 35.4% in the fourth quarter. Proficio Capital Partners LLC now owns 619 shares of the asset manager’s stock valued at $634,000 after acquiring an additional 162 shares in the last quarter. Harbour Investments Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $635,000. SouthState Corp grew its position in shares of BlackRock by 10.1% during the fourth quarter. SouthState Corp now owns 1,377 shares of the asset manager’s stock worth $1,412,000 after purchasing an additional 126 shares in the last quarter. Finally, Curio Wealth LLC bought a new stake in BlackRock during the 4th quarter valued at approximately $41,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

BlackRock stock opened at $1,048.82 on Wednesday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $162.49 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,112.13. The firm has a 50-day moving average price of $1,003.13 and a 200-day moving average price of $971.46.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $10.36 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the sale, the director directly owned 66,034 shares in the company, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Jefferies Financial Group lifted their price target on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $1,164.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,132.29.

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.