Accretive Wealth Partners LLC Has $2.18 Million Position in BlackRock $BLK

Accretive Wealth Partners LLC grew its stake in shares of BlackRock (NYSE:BLK) by 1.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,073 shares of the asset manager’s stock after buying an additional 24 shares during the quarter. Accretive Wealth Partners LLC’s holdings in BlackRock were worth $2,175,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of 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 purchasing an additional 15 shares during the last quarter. Garde Capital Inc. increased its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the period. Cheviot Value Management LLC bought a new position in BlackRock in the 1st quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter worth approximately $31,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Down 0.8%

BlackRock stock opened at $1,161.63 on Monday. The company has a market capitalization of $179.88 billion, a PE ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The firm’s fifty day moving average is $1,140.85 and its 200 day moving average is $1,043.90. 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 (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the firm posted $11.46 earnings per share. As a group, sell-side 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 $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s dividend payout ratio is presently 53.59%.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was 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 in the company, valued at $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLK. Bank of America boosted their price objective on shares of BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. increased their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research note on Thursday, October 2nd. Cowen restated a “buy” rating on shares of BlackRock in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,300.81.

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.