BlackRock, Inc. (NYSE:BLK) Shares Bought by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 22.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 736 shares of the asset manager’s stock after buying an additional 136 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in BlackRock were worth $614,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock during the 1st quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $28,000. Finally, LFA Lugano Financial Advisors SA increased its holdings in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK traded down $0.01 on Thursday, hitting $789.12. 250,799 shares of the company’s stock were exchanged, compared to its average volume of 506,332. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $780.75 and a 200-day moving average price of $792.72. The stock has a market cap of $117.26 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.63 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.93 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $844.17.

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.