Lyell Wealth Management LP boosted its holdings in BlackRock (NYSE:BLK – Free Report) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,729 shares of the asset manager’s stock after buying an additional 458 shares during the quarter. Lyell Wealth Management LP’s holdings in BlackRock were worth $8,110,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in BLK. Fairway Wealth LLC grew its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares during the period. Garde Capital Inc. grew its position in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in shares of BlackRock during the first quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the first quarter worth about $31,000. 80.69% of the stock is owned by institutional investors.
Insider Buying and Selling at BlackRock
In other news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction dated 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 sale, the director owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their position. 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. Corporate insiders own 1.98% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Report on BLK
BlackRock Price Performance
BLK stock opened at $1,161.63 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company’s 50-day moving average is $1,140.85 and its 200-day moving average is $1,043.90. The stock has a market capitalization of $179.88 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94.
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share 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 firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period last year, the company posted $11.46 earnings per share. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is 53.59%.
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.
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