BlackRock $BLK Shares Sold by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC reduced its position in BlackRock (NYSE:BLK) by 15.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 82 shares of the asset manager’s stock after selling 15 shares during the quarter. Elevation Wealth Partners LLC’s holdings in BlackRock were worth $86,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BLK. Brighton Jones LLC boosted its position in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares in the last quarter. Bison Wealth LLC boosted its position in shares of BlackRock by 1.6% in the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after buying an additional 17 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of BlackRock in the 4th quarter worth about $216,000. Toronto Dominion Bank boosted its position in shares of BlackRock by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 51,192 shares of the asset manager’s stock worth $52,475,000 after buying an additional 577 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. lifted its holdings in BlackRock by 43.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 5,297 shares of the asset manager’s stock valued at $5,192,000 after purchasing an additional 1,598 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on BLK shares. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Argus restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. UBS Group reaffirmed a “neutral” rating and set a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Evercore ISI upped their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

BlackRock Stock Down 0.9%

BLK opened at $1,124.34 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The firm has a 50 day moving average price of $1,115.88 and a 200 day moving average price of $1,007.82. The company has a market cap of $174.10 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45.

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

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock’s dividend payout ratio is 50.39%.

Insiders Place Their Bets

In other news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. Corporate insiders own 1.98% 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.