BlackRock $BLK Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in BlackRock by 37.8%, now holding 6,137 shares valued at approximately $6.4 million.
• BlackRock reported $12.05 earnings per share for the last quarter, surpassing analysts' expectations, with revenue increasing by 12.9% year-over-year.
• The firm recently declared a quarterly dividend of $5.21 per share, which represents an annualized dividend yield of 1.8%.

Atria Wealth Solutions Inc. trimmed its position in BlackRock (NYSE:BLK - Free Report) by 37.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,137 shares of the asset manager's stock after selling 3,724 shares during the period. Atria Wealth Solutions Inc.'s holdings in BlackRock were worth $6,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Garde Capital Inc. raised its holdings in shares of BlackRock by 200.0% during the second 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. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of BlackRock by 100.0% during the first 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. MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock during the first quarter worth $31,000. Finally, Cheviot Value Management LLC purchased a new position in BlackRock in the first quarter valued at $30,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Up 2.1%

BLK stock opened at $1,156.20 on Tuesday. The stock has a market capitalization of $179.04 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.15 and a beta of 1.45. The firm has a 50-day simple moving average of $1,135.66 and a 200-day simple moving average of $1,037.02. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13.

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 analysts' consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $10.36 earnings per share. Equities analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is presently 50.39%.

Analyst Ratings Changes

A number of research firms have weighed in on BLK. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. BMO Capital Markets began coverage on shares of BlackRock in a report on Friday, October 3rd. They issued an "outperform" rating and a $1,280.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a report on Thursday, October 2nd. Finally, Barclays lifted their price objective on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,263.31.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business's stock in a transaction dated 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 transaction, the director owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 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.

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