Elevate Capital Advisors LLC Invests $298,000 in BlackRock $BLK

Elevate Capital Advisors LLC acquired a new position in BlackRock (NYSE:BLK) in the 2nd quarter, Holdings Channel reports. The firm acquired 284 shares of the asset manager’s stock, valued at approximately $298,000.

Other large investors also recently made changes to their positions in the company. Garde Capital Inc. increased its position in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Fairway Wealth LLC grew its holdings in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter valued at $31,000. Finally, Cheviot Value Management LLC acquired a new stake in BlackRock during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a report on Saturday, September 27th. Finally, Evercore ISI raised their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a report on Friday, September 5th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,213.67.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 14,828 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were 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 in the company, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. Corporate insiders own 1.98% of the company’s stock.

BlackRock Trading Up 0.0%

NYSE BLK opened at $1,160.75 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,183.50. 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 $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’s fifty day moving average price is $1,129.67 and its two-hundred day moving average price is $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, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm posted $10.36 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given 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 was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

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.