Childress Capital Advisors LLC Boosts Holdings in BlackRock $BLK

Childress Capital Advisors LLC boosted its stake in BlackRock (NYSE:BLK) by 30.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 335 shares of the asset manager’s stock after purchasing an additional 79 shares during the quarter. Childress Capital Advisors LLC’s holdings in BlackRock were worth $352,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC boosted its position in BlackRock by 76.5% during 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 during the period. Game Plan Financial Advisors LLC boosted its stake in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 15 shares during the last quarter. Garde Capital Inc. boosted its stake in shares of BlackRock by 200.0% during the 2nd 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 last quarter. Cheviot Value Management LLC bought a new position in BlackRock during the 1st quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 17,142 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $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. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Down 2.0%

Shares of NYSE:BLK opened at $1,142.33 on Thursday. The company’s 50-day moving average price is $1,128.09 and its 200 day moving average price is $1,024.88. The company has a market cap of $176.89 billion, a PE ratio of 27.62, a P/E/G ratio of 2.23 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 fifty-two week low of $773.74 and a fifty-two week high of $1,183.50.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the company posted $10.36 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors 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 annualized dividend and a yield of 1.8%. BlackRock’s payout ratio is presently 50.39%.

Analysts Set New Price Targets

Several brokerages have recently commented on BLK. Jefferies Financial Group increased their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Bank of America increased their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,171.93.

BlackRock Company 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.