Beverly Hills Private Wealth LLC Has $4.30 Million Position in BlackRock $BLK

Beverly Hills Private Wealth LLC lifted its position in shares of BlackRock (NYSE:BLK) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,100 shares of the asset manager’s stock after purchasing an additional 12 shares during the period. BlackRock accounts for 0.8% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its 26th largest holding. Beverly Hills Private Wealth LLC’s holdings in BlackRock were worth $4,302,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares during the last quarter. Bison Wealth LLC lifted its holdings 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 last quarter. GAMMA Investing LLC boosted its position in BlackRock by 10.6% during the first quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager’s stock worth $3,500,000 after purchasing an additional 355 shares during the period. Blue Trust Inc. raised its position in shares of BlackRock by 24.9% in the first quarter. Blue Trust Inc. now owns 633 shares of the asset manager’s stock valued at $599,000 after purchasing an additional 126 shares during the period. Finally, Advisor Resource Council acquired a new stake in shares of BlackRock during the 1st quarter worth about $542,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 18,036 shares of BlackRock 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 in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at $283,267,354.71. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BLK shares. Cowen reissued a “buy” rating on shares of BlackRock in a report on Wednesday. Argus lifted their price target on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Barclays increased their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,300.81.

BlackRock Trading Down 0.8%

BLK opened at $1,161.63 on Monday. 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 twelve month low of $773.74 and a twelve month high of $1,219.94. The stock has a market capitalization of $179.88 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.01 and a beta of 1.45. The company has a 50-day simple moving average of $1,140.85 and a 200 day simple moving average of $1,043.90.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The business’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the company posted $11.46 EPS. Analysts predict that BlackRock will post 47.41 EPS 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 issued 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 payout ratio is 53.59%.

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.