Evelyn Partners Investment Management Services Ltd Increases Stock Holdings in BlackRock $BLK

Evelyn Partners Investment Management Services Ltd grew its stake in shares of BlackRock (NYSE:BLK) by 334.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 864 shares of the asset manager’s stock after purchasing an additional 665 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in BlackRock were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Garde Capital Inc. boosted its holdings in shares of 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 acquiring an additional 18 shares during the period. Traub Capital Management LLC purchased a new position in BlackRock during the second quarter worth about $28,000. Whipplewood Advisors LLC lifted its holdings in shares of BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the period. Game Plan Financial Advisors LLC boosted its position 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 worth $28,000 after purchasing an additional 15 shares in the last quarter. Finally, Creekmur Asset Management LLC grew its position in BlackRock by 87.5% during the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after buying an additional 14 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BLK. Cowen restated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. UBS Group reiterated a “hold” rating on shares of BlackRock in a report on Tuesday, October 21st. Barclays upped their price objective on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. TD Cowen boosted their price target on BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Evercore ISI upped their price target on BlackRock from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,302.53.

BlackRock Stock Performance

BlackRock stock opened at $1,013.85 on Friday. The firm has a market capitalization of $157.30 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. BlackRock has a one year low of $773.74 and a one year high of $1,219.94. The stock’s 50 day moving average price is $1,117.22 and its 200 day moving average price is $1,077.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the firm posted $11.46 earnings per share. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Friday, December 5th will be paid a $5.21 dividend. The ex-dividend date is Friday, December 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.1%. BlackRock’s payout ratio is 53.59%.

Insider Buying and Selling

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

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.