Forvis Mazars Wealth Advisors LLC Grows Stock Position in BlackRock $BLK

Forvis Mazars Wealth Advisors LLC grew its stake in BlackRock (NYSE:BLK) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 579 shares of the asset manager’s stock after buying an additional 18 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in BlackRock were worth $608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC lifted its stake in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC grew 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 valued at $28,000 after buying an additional 15 shares during the period. Garde Capital Inc. increased its holdings in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new position in shares of BlackRock in the first quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $31,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the transaction, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last three months. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Down 0.8%

BLK stock opened at $1,161.63 on Monday. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The firm’s 50 day moving average price is $1,140.85 and its 200-day moving average price is $1,043.90. The firm has a market cap of $179.88 billion, a PE ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. 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 issued 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). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the business posted $11.46 earnings per share. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s payout ratio is presently 53.59%.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. BNP Paribas Exane upped their target price on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Jefferies Financial Group lifted their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Evercore ISI upped their price objective on shares of BlackRock from $1,200.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Citigroup lifted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,300.81.

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.