Wealthspire Advisors LLC Has $1.89 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Wealthspire Advisors LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,401 shares of the asset manager’s stock after acquiring an additional 38 shares during the period. Wealthspire Advisors LLC’s holdings in BlackRock were worth $1,890,000 as of its most recent SEC filing.

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

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction 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 owns 353,718 shares in the company, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction 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 approximately $298,272,703.50. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 in the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.1 %

BLK opened at $885.73 on Friday. The stock has a fifty day moving average of $857.98 and a 200-day moving average of $814.47. The company has a market capitalization of $131.20 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $9.28 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.30%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BLK shares. TD Cowen decreased their target price on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Barclays lifted their price objective on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Evercore ISI upped their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

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.