REAP Financial Group LLC Has $210,000 Position in BlackRock $BLK

REAP Financial Group LLC increased its position in BlackRock (NYSE:BLK) by 60.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200 shares of the asset manager’s stock after buying an additional 75 shares during the period. REAP Financial Group LLC’s holdings in BlackRock were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BLK. Securian Asset Management Inc. acquired a new stake in shares of BlackRock in the 1st quarter valued at $7,331,000. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $2,018,000. Allianz SE raised its holdings in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock valued at $10,435,000 after buying an additional 277 shares in the last quarter. Arizona State Retirement System bought a new position in BlackRock during the first quarter valued at about $40,868,000. Finally, Community Financial Services Group LLC raised its holdings in BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after buying an additional 836 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Barclays boosted their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. UBS Group restated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Finally, Bank of America lifted their target price on shares of BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,222.87.

BlackRock Trading Down 1.0%

Shares of BlackRock stock opened at $1,166.90 on Wednesday. The stock has a market capitalization of $180.69 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13. The company has a 50-day simple moving average of $1,131.84 and a 200 day simple moving average of $1,031.25.

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

BlackRock Announces Dividend

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 dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insider Activity at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

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.