Naviter Wealth LLC Purchases 23 Shares of BlackRock $BLK

Naviter Wealth LLC increased its position in shares of BlackRock (NYSE:BLK) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 348 shares of the asset manager’s stock after purchasing an additional 23 shares during the period. Naviter Wealth LLC’s holdings in BlackRock were worth $365,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Axxcess Wealth Management LLC grew its position in BlackRock by 12.8% in the second quarter. Axxcess Wealth Management LLC now owns 3,071 shares of the asset manager’s stock valued at $3,223,000 after acquiring an additional 348 shares during the period. Moran Wealth Management LLC acquired a new position in shares of BlackRock during the second quarter valued at $10,160,000. Revolve Wealth Partners LLC acquired a new position in shares of BlackRock during the second quarter valued at $380,000. Cornerstone Wealth Group LLC lifted its stake in BlackRock by 3.3% in the second quarter. Cornerstone Wealth Group LLC now owns 6,150 shares of the asset manager’s stock valued at $6,453,000 after buying an additional 196 shares during the period. Finally, NorthRock Partners LLC lifted its stake in BlackRock by 2.6% in the second quarter. NorthRock Partners LLC now owns 1,630 shares of the asset manager’s stock valued at $1,711,000 after buying an additional 42 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 value 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 $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Trading Up 3.3%

NYSE BLK opened at $1,193.23 on Wednesday. The business’s 50-day moving average price is $1,137.33 and its two-hundred day moving average price is $1,038.10. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,209.82. The firm has a market capitalization of $184.77 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.45. 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 announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.46 earnings per share. On average, analysts expect 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 Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.7%. BlackRock’s dividend payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday, October 2nd. Wells Fargo & Company cut their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Morgan Stanley lifted their target price on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, BNP Paribas Exane lifted their price target on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,263.31.

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.