Nova Wealth Management Inc. Takes $37,000 Position in BlackRock $BLK

Nova Wealth Management Inc. bought a new position in shares of BlackRock (NYSE:BLK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39 shares of the asset manager’s stock, valued at approximately $37,000.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in BlackRock during the fourth quarter worth approximately $30,000. Fairway Wealth LLC boosted its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC boosted its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in BlackRock during the first quarter worth approximately $31,000. Finally, Cheviot Value Management LLC purchased a new position in BlackRock during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BLK shares. Wells Fargo & Company cut their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. UBS Group reaffirmed a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Wall Street Zen raised shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

BlackRock Price Performance

BLK opened at $1,124.34 on Friday. The company has a fifty day simple moving average of $1,115.88 and a 200 day simple moving average of $1,007.01. The firm has a market cap of $174.10 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.17 and a beta of 1.45. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $10.36 EPS. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Insider Activity

In related news, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 in the last 90 days. Company insiders own 1.98% of the company’s stock.

BlackRock Company 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.