AE Wealth Management LLC Purchases 223 Shares of BlackRock (NYSE:BLK)

Key Points

• AE Wealth Management LLC increased its stake in BlackRock by 17.0% during Q1, holding shares valued at $1.45 million as of its latest SEC filing.
• The company recently reported a quarterly EPS of $12.05, exceeding analysts' expectations and achieving 12.9% revenue growth year-over-year.
• BlackRock announced a quarterly dividend of $5.21, which will be paid on September 23rd, representing an annual yield of 1.85%.

AE Wealth Management LLC grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 17.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,532 shares of the asset manager's stock after purchasing an additional 223 shares during the quarter. AE Wealth Management LLC's holdings in BlackRock were worth $1,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in BlackRock during the fourth quarter valued at $30,000. MorganRosel Wealth Management LLC bought a new position in BlackRock during the first quarter valued at approximately $31,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of BlackRock in the first quarter worth approximately $34,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Down 0.1%

BlackRock stock traded down $1.23 during mid-day trading on Thursday, reaching $1,113.42. The company's stock had a trading volume of 120,467 shares, compared to its average volume of 782,552. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,130.66. The company has a market capitalization of $172.50 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The business's 50 day simple moving average is $1,035.42 and its 200 day simple moving average is $979.73.

BlackRock (NYSE:BLK - Get Free Report) last released its 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. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $10.36 earnings per share. As a group, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.87%. BlackRock's payout ratio is presently 50.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BLK shares. Jefferies Financial Group increased their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley dropped their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. TD Cowen reduced their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the 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 directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the transaction, the chief executive officer owned 251,697 shares in the company, 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. In the last three months, insiders have sold 49,352 shares of company stock valued at $55,486,962. Insiders own 1.98% of the company's stock.

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.