BlackRock $BLK Shares Purchased by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in BlackRock by 8.7% during the second quarter, holding 5,389 shares valued at $5,654,000.
• BlackRock reported earnings of $12.05 per share for the recent quarter, exceeding the consensus estimate by $1.64, with a year-over-year revenue increase of 12.9%.
• Directors Rachel Lord and Fabrizio Freda sold significant amounts of their shares, resulting in a 48.43% and 55.84% decrease in their positions, respectively, amounting to a total of $74.7 million in insider sales over the last ninety days.

Fifth Third Wealth Advisors LLC raised its holdings in BlackRock (NYSE:BLK - Free Report) by 8.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,389 shares of the asset manager's stock after acquiring an additional 433 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in BlackRock were worth $5,654,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC raised its stake in shares of 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 buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised 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 during the last quarter. Garde Capital Inc. raised its position in shares of 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 purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insiders Place Their Bets

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction that occurred 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 valued at $74,694,573 over the last ninety days. Insiders own 1.98% of the company's stock.

BlackRock Price Performance

BLK stock opened at $1,132.12 on Friday. 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 has a 1 year low of $773.74 and a 1 year high of $1,184.13. The firm has a market cap of $175.31 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The stock has a 50-day simple moving average of $1,134.85 and a 200-day simple moving average of $1,034.64.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $10.36 earnings per share. On average, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Analyst Ratings Changes

BLK has been the subject of a number of analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of BlackRock in a report on Wednesday. BMO Capital Markets initiated coverage on shares of BlackRock in a research note on Friday, October 3rd. They issued an "outperform" rating and a $1,280.00 target price for the company. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Barclays upped their price objective on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Bank of America upped their price target on BlackRock from $1,224.00 to $1,396.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,258.56.

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.

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.