Jackson Wealth Management LLC Has $3.69 Million Stock Position in BlackRock $BLK

Jackson Wealth Management LLC raised its stake in BlackRock (NYSE:BLK) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,514 shares of the asset manager’s stock after buying an additional 43 shares during the period. Jackson Wealth Management LLC’s holdings in BlackRock were worth $3,687,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BLK. Brighton Jones LLC lifted its holdings in shares of BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC lifted its holdings in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the period. RFG Advisory LLC acquired a new position in shares of BlackRock during the first quarter worth $1,120,000. Portside Wealth Group LLC acquired a new position in shares of BlackRock during the first quarter worth $277,000. Finally, Fermata Advisors LLC lifted its holdings in shares of BlackRock by 96.3% during the first quarter. Fermata Advisors LLC now owns 483 shares of the asset manager’s stock worth $458,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. Insiders own 1.98% of the company’s stock.

BlackRock Trading Up 0.0%

BLK opened at $1,160.75 on Friday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,183.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $179.74 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a fifty day moving average price of $1,129.67 and a two-hundred day moving average price of $1,027.68.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.36 earnings per share. Analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s payout ratio is presently 50.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BLK shares. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group boosted their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday. Citigroup boosted their target price on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI boosted their target price on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, Bank of America boosted their target price on shares of BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,213.67.

About BlackRock

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.