Agate Pass Investment Management LLC Has $834,000 Stake in BlackRock $BLK

Agate Pass Investment Management LLC boosted its stake in BlackRock (NYSE:BLK) by 12.9% in the second quarter, HoldingsChannel.com reports. The firm owned 795 shares of the asset manager’s stock after buying an additional 91 shares during the period. Agate Pass Investment Management LLC’s holdings in BlackRock were worth $834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Garde Capital Inc. increased its holdings in 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 purchasing an additional 18 shares during the period. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the period. Game Plan Financial Advisors LLC increased its holdings in BlackRock by 100.0% in the first 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 during the period. MorganRosel Wealth Management LLC acquired a new stake in BlackRock in the first quarter valued at $31,000. Finally, Cheviot Value Management LLC acquired a new stake in BlackRock in the first quarter valued at $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 in the last quarter. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BLK shares. Citigroup increased their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Wells Fargo & Company decreased their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. The Goldman Sachs Group increased their price target on BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, BMO Capital Markets assumed coverage on BlackRock in a report on Friday, October 3rd. They set an “outperform” rating and a $1,280.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,258.56.

BlackRock Stock Performance

Shares of BLK opened at $1,132.12 on Friday. 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 stock has a 50-day moving average of $1,134.85 and a 200-day moving average of $1,034.64. The company has a market cap of $175.31 billion, a PE ratio of 27.37, a P/E/G ratio of 2.22 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,184.13.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $10.36 EPS. On average, equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

About BlackRock

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.