1 North Wealth Services LLC Increases Holdings in BlackRock $BLK

1 North Wealth Services LLC lifted its position in BlackRock (NYSE:BLK) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,034 shares of the asset manager’s stock after purchasing an additional 55 shares during the quarter. 1 North Wealth Services LLC’s holdings in BlackRock were worth $2,134,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BLK. Brighton Jones LLC raised its stake in shares of BlackRock by 23.1% in 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 last quarter. Bison Wealth LLC raised its stake in shares of BlackRock by 1.6% in 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 last quarter. Capital Investment Advisors LLC lifted its holdings in BlackRock by 3.4% in the first quarter. Capital Investment Advisors LLC now owns 1,506 shares of the asset manager’s stock valued at $1,426,000 after acquiring an additional 50 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in BlackRock by 23.2% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 420 shares of the asset manager’s stock worth $398,000 after purchasing an additional 79 shares in the last quarter. Finally, City Holding Co. grew its stake in shares of BlackRock by 35.1% during the 1st quarter. City Holding Co. now owns 77 shares of the asset manager’s stock worth $73,000 after purchasing an additional 20 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BLK has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. BMO Capital Markets initiated coverage on BlackRock in a research report on Friday, October 3rd. They issued an “outperform” rating and a $1,280.00 price objective for the company. Bank of America boosted their price objective on BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,222.87.

BlackRock Stock Down 1.0%

Shares of BLK opened at $1,166.90 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,184.13. The stock has a market capitalization of $180.69 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 2.22 and a beta of 1.45. The stock has a 50 day moving average price of $1,131.84 and a 200 day moving average price of $1,031.25.

BlackRock (NYSE:BLK) last issued its quarterly 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. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the business earned $10.36 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction 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 transaction, the director directly owned 61,369 shares in the company, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last ninety days. Company insiders own 1.98% of the company’s stock.

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.