Bingham Private Wealth LLC Buys 245 Shares of BlackRock $BLK

Bingham Private Wealth LLC boosted its stake in BlackRock (NYSE:BLK) by 45.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 788 shares of the asset manager’s stock after acquiring an additional 245 shares during the period. Bingham Private Wealth LLC’s holdings in BlackRock were worth $827,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Vanguard Group Inc. raised its holdings in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the period. Royal Bank of Canada increased its position in BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after buying an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BlackRock by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after buying an additional 111,694 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of BlackRock by 13.2% during the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock worth $882,970,000 after acquiring an additional 108,473 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 14,828 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares in the company, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on BLK. Bank of America upped their price objective on shares of BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Evercore ISI boosted their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. UBS Group restated a “neutral” rating and issued a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Argus reissued a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,222.87.

BlackRock Stock Up 1.7%

NYSE BLK opened at $1,179.86 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,184.13. The stock has a market capitalization of $182.70 billion, a PE ratio of 28.53, a PEG ratio of 2.18 and a beta of 1.45. The business’s 50-day moving average is $1,130.91 and its 200 day moving average is $1,030.30.

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

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. 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.