Oak Hill Wealth Advisors LLC Grows Stake in BlackRock $BLK

Oak Hill Wealth Advisors LLC boosted its position in BlackRock (NYSE:BLK) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,091 shares of the asset manager’s stock after purchasing an additional 15 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in BlackRock were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BLK. Fairway Wealth LLC increased its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC increased its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. increased its position in BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares in the last quarter. Cheviot Value Management LLC purchased a new position in BlackRock during the first quarter worth $30,000. Finally, MorganRosel Wealth Management LLC purchased a new position in BlackRock during the first quarter worth $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the firm’s stock in a transaction that occurred on 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 owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This represents a 55.84% 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 worth $74,694,573 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent research reports. Citigroup raised their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America lifted their target price on BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets assumed coverage on BlackRock in a report on Friday. They issued an “outperform” rating and a $1,280.00 target price on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,213.67.

BlackRock Stock Performance

BLK opened at $1,160.75 on Friday. The company has a market capitalization of $179.74 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,183.50. The business has a 50 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 quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the company earned $10.36 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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

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.