BlackRock (NYSE:BLK) Holdings Lifted by Detalus Advisors LLC

by · The Cerbat Gem

Detalus Advisors LLC increased its holdings in BlackRock (NYSE:BLK – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409 shares of the asset manager’s stock after acquiring an additional 11 shares during the period. Detalus Advisors LLC’s holdings in BlackRock were worth $387,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock in the fourth quarter worth approximately $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock in the 4th quarter valued at approximately $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock in the 1st quarter worth approximately $31,000. Synergy Investment Management LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at $40,000. Finally, Curio Wealth LLC purchased a new position in shares of BlackRock during the 4th quarter valued at $41,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares of the company’s stock, valued at $60,256,025. This trade represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 0.4%

Shares of BLK stock opened at $1,053.14 on Wednesday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market cap of $163.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The stock has a 50 day moving average of $969.60 and a 200-day moving average of $968.68.

BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the firm earned $9.81 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.98%. BlackRock’s dividend payout ratio is 50.63%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BLK. The Goldman Sachs Group lifted their target price on shares of BlackRock from $994.00 to $1,115.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Barclays lifted their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. UBS Group lowered their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company upped their price target on BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Finally, Argus raised their price objective on BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,102.08.

Get Our Latest Analysis on BLK

BlackRock Company Profile

(Free Report)

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.

See Also

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