64,480 Shares in BlackRock (NYSE:BLK) Acquired by Liberty Wealth Management LLC

Key Points

• Liberty Wealth Management LLC acquired 64,480 shares of BlackRock (NYSE: BLK) valued at approximately $61 million, making it the firm's 25th largest position.
• BlackRock recently reported earnings of $12.05 per share, exceeding expectations and reflecting a 12.9% revenue increase year-over-year, amounting to $5.42 billion for the quarter.
• The firm announced a quarterly dividend of $5.21 per share, representing a yield of 1.9% with a payout ratio of 50.39%, payable on September 23rd for investors of record on September 5th.

Liberty Wealth Management LLC acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 64,480 shares of the asset manager's stock, valued at approximately $61,029,000. BlackRock makes up approximately 1.1% of Liberty Wealth Management LLC's portfolio, making the stock its 25th biggest position.

Several other large investors also recently bought and sold shares of BLK. Bank of Nova Scotia Trust Co. lifted its stake in BlackRock by 5.5% during the first quarter. Bank of Nova Scotia Trust Co. now owns 928 shares of the asset manager's stock worth $878,000 after purchasing an additional 48 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in BlackRock by 8.9% during the first quarter. J. Safra Sarasin Holding AG now owns 29,356 shares of the asset manager's stock worth $27,785,000 after purchasing an additional 2,410 shares during the last quarter. Malaga Cove Capital LLC increased its position in BlackRock by 35.7% in the first quarter. Malaga Cove Capital LLC now owns 1,247 shares of the asset manager's stock worth $1,180,000 after buying an additional 328 shares during the period. Banco Santander S.A. increased its position in BlackRock by 4.8% in the first quarter. Banco Santander S.A. now owns 9,135 shares of the asset manager's stock worth $8,646,000 after buying an additional 416 shares during the period. Finally, IFG Advisory LLC increased its position in BlackRock by 3.5% in the first quarter. IFG Advisory LLC now owns 3,285 shares of the asset manager's stock worth $3,109,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

NYSE BLK opened at $1,091.29 on Friday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $169.07 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. The company has a 50 day moving average price of $1,040.67 and a two-hundred day moving average price of $981.44. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $10.36 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is 50.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Morgan Stanley decreased their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

Insider Buying and Selling

In related news, 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 value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last quarter. Company insiders own 1.98% of the company's stock.

BlackRock 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.

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.