Destiny Wealth Partners LLC Takes Position in BlackRock $BLK

Destiny Wealth Partners LLC acquired a new stake in shares of BlackRock (NYSE:BLK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 506 shares of the asset manager’s stock, valued at approximately $531,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Garde Capital Inc. grew its holdings in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares in the last quarter. 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 stake in BlackRock in the 1st quarter worth approximately $31,000. Finally, Cheviot Value Management LLC acquired a new position in BlackRock in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred 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. The trade was a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the completion of the transaction, the chief executive officer owned 263,751 shares of the company’s stock, valued at approximately $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,494 shares of company stock worth $74,694,573. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.6%

BLK opened at $1,146.33 on Friday. The firm has a 50 day moving average price of $1,123.70 and a 200 day moving average price of $1,018.07. The company has a market cap of $177.51 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 2.16 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. 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 (NYSE:BLK) last announced 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. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company posted $10.36 earnings per share. BlackRock’s revenue was up 12.9% compared to the same quarter last year. Sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is 50.39%.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Bank of America upped their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

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.