Abel Hall LLC Takes Position in BlackRock $BLK

Key Points

• Abel Hall LLC has acquired a new stake in BlackRock, purchasing 234 shares valued at approximately $245,000.
• Multiple institutional investors have increased their stakes in BlackRock, with 80.69% of the stock now owned by such investors.
• Recent research reports have increased BlackRock's price targets, with Bank of America raising it to $1,396.00 and many analysts rating the stock as a "buy".

Abel Hall LLC acquired a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 234 shares of the asset manager's stock, valued at approximately $245,000.

Several other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC grew 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 acquiring an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its position in 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 acquiring an additional 15 shares during the last quarter. Garde Capital Inc. grew its position in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in BlackRock during the 1st quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock during the 1st quarter worth approximately $31,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLK. Bank of America raised their price target on BlackRock from $1,224.00 to $1,396.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Barclays raised their price target on BlackRock from $1,210.00 to $1,310.00 and gave the stock an "overweight" rating in a research report on Wednesday. Jefferies Financial Group raised their price target on BlackRock from $1,196.00 to $1,325.00 and gave the stock a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Finally, Evercore ISI lifted their price objective on BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,254.47.

BlackRock Stock Down 0.2%

BLK stock opened at $1,163.72 on Thursday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13. The business has a fifty day moving average price of $1,132.82 and a 200-day moving average price of $1,032.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $180.21 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.20 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the business earned $10.36 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. Equities analysts forecast that BlackRock will post 47.41 earnings per share 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 paid a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's payout ratio is currently 50.39%.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction on 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction on Thursday, July 24th. The shares were 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. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last three months. 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.

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