BridgePort Financial Solutions LLC Buys 96 Shares of BlackRock $BLK

BridgePort Financial Solutions LLC increased its stake in BlackRock (NYSE:BLK) by 14.1% during the second quarter, Holdings Channel reports. The firm owned 777 shares of the asset manager’s stock after acquiring an additional 96 shares during the period. BridgePort Financial Solutions LLC’s holdings in BlackRock were worth $816,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC grew its position in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its position in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares during the last quarter. Garde Capital Inc. grew its position in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in BlackRock in the first quarter valued at about $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock in the first quarter valued at about $31,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 in the last ninety days. Insiders own 1.98% of the company’s stock.

BlackRock Price Performance

BlackRock stock opened at $1,160.75 on Friday. The stock’s 50 day moving average is $1,129.67 and its 200 day moving average is $1,028.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market cap of $179.74 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.22 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,183.50.

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

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s payout ratio is currently 50.39%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. UBS Group reiterated a “neutral” rating and issued a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 16th. Argus reissued a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price target on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,213.67.

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.