Beaumont Asset Management L.L.C. Boosts Stock Holdings in BlackRock $BLK

Beaumont Asset Management L.L.C. raised its holdings in shares of BlackRock (NYSE:BLK) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,582 shares of the asset manager’s stock after purchasing an additional 42 shares during the period. BlackRock accounts for about 1.5% of Beaumont Asset Management L.L.C.’s portfolio, making the stock its 14th largest position. Beaumont Asset Management L.L.C.’s holdings in BlackRock were worth $2,709,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLK. Brighton Jones LLC increased its position in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares during the period. Bison Wealth LLC increased its position in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 17 shares during the period. Farther Finance Advisors LLC increased its position in BlackRock by 11.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,561 shares of the asset manager’s stock valued at $2,418,000 after purchasing an additional 269 shares during the period. Pallas Capital Advisors LLC increased its position in BlackRock by 112.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 1,135 shares of the asset manager’s stock valued at $1,073,000 after purchasing an additional 602 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new position in BlackRock during the 1st quarter valued at about $674,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.2%

BLK stock opened at $1,163.72 on Thursday. The firm has a 50 day moving average of $1,132.82 and a 200 day moving average of $1,032.16. The stock has a market capitalization of $180.21 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.20 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 52 week low of $773.74 and a 52 week high of $1,184.13.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $10.36 EPS. Sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of BlackRock 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 directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the sale, the director owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on BLK shares. TD Cowen raised their target price on shares of BlackRock from $1,252.00 to $1,301.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Evercore ISI lifted their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,254.47.

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.