BlackRock (NYSE:BLK) Stock Holdings Lifted by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC boosted its stake in BlackRock by 241.4%, acquiring 1,299 additional shares, bringing its total holdings to 1,837 shares worth approximately $1.74 million.
• BlackRock reported $12.05 earnings per share for the last quarter, exceeding expectations and representing a 12.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $5.21 per share, resulting in an annualized dividend of $20.84 and a yield of 1.86%.

Drive Wealth Management LLC grew its holdings in BlackRock (NYSE:BLK - Free Report) by 241.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,837 shares of the asset manager's stock after purchasing an additional 1,299 shares during the quarter. Drive Wealth Management LLC's holdings in BlackRock were worth $1,739,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Hazlett Burt & Watson Inc. lifted its position in shares of BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after acquiring an additional 11 shares during the last quarter. Detalus Advisors LLC lifted its position in BlackRock by 2.8% in the first quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after acquiring an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in BlackRock by 20.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after acquiring an additional 11 shares during the last quarter. Finally, Jump Financial LLC lifted its position in BlackRock by 1.6% in the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock valued at $806,000 after acquiring an additional 12 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% 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 worth $55,486,962. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.0%

NYSE BLK traded up $0.14 during trading hours on Tuesday, reaching $1,117.96. 128,844 shares of the company traded hands, compared to its average volume of 788,030. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,130.66. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $173.21 billion, a PE ratio of 27.03, a PEG ratio of 2.27 and a beta of 1.41. The company has a 50 day moving average of $1,030.13 and a two-hundred day moving average of $977.80.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm posted $10.36 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts expect 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. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.86%. BlackRock's payout ratio is currently 50.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BLK. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Barclays upped their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Citigroup reduced their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

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.