Elevation Point Wealth Partners LLC Makes New Investment in BlackRock $BLK

Elevation Point Wealth Partners LLC purchased a new stake in shares of BlackRock (NYSE:BLK) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 148 shares of the asset manager’s stock, valued at approximately $155,000.

A number of other institutional investors have also made changes to their positions in BLK. Baltimore Washington Financial Advisors Inc. boosted its stake in BlackRock by 17.9% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 18,208 shares of the asset manager’s stock valued at $19,105,000 after purchasing an additional 2,767 shares during the period. GM Advisory Group LLC increased its position in BlackRock by 52.2% in the 2nd quarter. GM Advisory Group LLC now owns 414 shares of the asset manager’s stock worth $434,000 after buying an additional 142 shares during the period. Vinva Investment Management Ltd lifted its holdings in shares of BlackRock by 3.7% during the second quarter. Vinva Investment Management Ltd now owns 5,444 shares of the asset manager’s stock worth $5,704,000 after buying an additional 192 shares during the last quarter. Wambolt & Associates LLC boosted its position in shares of BlackRock by 7.1% in the second quarter. Wambolt & Associates LLC now owns 470 shares of the asset manager’s stock valued at $496,000 after acquiring an additional 31 shares during the period. Finally, Choreo LLC grew its stake in shares of BlackRock by 1.4% in the second quarter. Choreo LLC now owns 6,676 shares of the asset manager’s stock worth $7,005,000 after acquiring an additional 89 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BlackRock stock opened at $1,048.41 on Monday. The business has a 50 day simple moving average of $1,107.94 and a 200 day simple moving average of $1,082.60. 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 company has a market capitalization of $162.66 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a one year low of $773.74 and a one year high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the prior year, the company earned $11.46 earnings per share. The business’s revenue was up 25.2% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BLK. Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Jefferies Financial Group boosted their price objective on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Barclays upped their price objective on shares of BlackRock from $1,310.00 to $1,360.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their target price on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Finally, Bank of America upped their price target on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,302.59.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by corporate insiders.

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.