Prestige Wealth Management Group LLC Has $598,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Prestige Wealth Management Group LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 70.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 760 shares of the asset manager’s stock after purchasing an additional 314 shares during the period. Prestige Wealth Management Group LLC’s holdings in BlackRock were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BLK. Vanguard Group Inc. raised its stake in BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors raised its position in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Capital World Investors boosted its stake in shares of BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital International Investors grew its position in BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank bought a new position in BlackRock during the 4th quarter worth $1,812,920,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BLK has been the topic of several analyst reports. Morgan Stanley reduced their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. TD Cowen decreased their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Evercore ISI boosted their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup increased their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Barclays began coverage on shares of BlackRock in a research report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $883.13.

BlackRock Price Performance

BLK traded down $9.72 on Friday, reaching $866.92. The stock had a trading volume of 748,945 shares, compared to its average volume of 587,817. The company has a market capitalization of $128.82 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $848.57 and a 200-day moving average of $811.87. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm earned $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.35%. BlackRock’s payout ratio is 51.84%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last ninety days. 0.90% of the stock is owned by insiders.

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.