Premier Path Wealth Partners LLC Boosts Holdings in BlackRock, Inc. (NYSE:BLK)

Premier Path Wealth Partners LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,890 shares of the asset manager’s stock after buying an additional 191 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in BlackRock were worth $2,275,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BLK. Carolinas Wealth Consulting LLC lifted its position in BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the period. Zhang Financial LLC boosted its stake in shares of BlackRock by 24.0% in the first quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after buying an additional 171 shares in the last quarter. California State Teachers Retirement System grew its holdings in BlackRock by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares during the period. Farrow Financial Inc. purchased a new position in BlackRock in the fourth quarter worth $2,228,000. Finally, Axxcess Wealth Management LLC lifted its holdings in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after acquiring an additional 1,248 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 27,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,042 shares of company stock valued at $68,587,117. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen lowered their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Morgan Stanley reduced their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Argus upped their target price on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $874.07.

BlackRock Price Performance

BLK stock traded up $17.60 during trading on Friday, hitting $882.84. The stock had a trading volume of 412,951 shares, compared to its average volume of 595,632. The stock has a market cap of $131.19 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company’s 50 day moving average price is $828.48 and its two-hundred day moving average price is $805.18. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $9.28 earnings per share. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $5.10 dividend. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.31%. BlackRock’s payout ratio is 51.84%.

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.