Bogart Wealth LLC Has $16.77 Million Position in BlackRock $BLK

Key Points

• Bogart Wealth LLC increased its position in BlackRock, owning approximately $16.77 million worth of stock, now making up about 0.7% of its investment portfolio.
• CEO Laurence Fink and Director Rachel Lord sold significant amounts of their BlackRock shares on July 25, with Fink selling 12,054 shares and Lord selling 18,036 shares.
• BlackRock reported a missed EPS estimate of $11.55 for the recent quarter, although it had a net revenue of $6.51 billion, surpassing estimates of $6.22 billion.

Bogart Wealth LLC boosted its holdings in BlackRock (NYSE:BLK - Free Report) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,985 shares of the asset manager's stock after acquiring an additional 335 shares during the quarter. BlackRock accounts for about 0.7% of Bogart Wealth LLC's investment portfolio, making the stock its 25th biggest position. Bogart Wealth LLC's holdings in BlackRock were worth $16,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BLK. Garde Capital Inc. grew its stake in 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 buying an additional 18 shares during the last quarter. Fairway Wealth LLC grew its stake in 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 buying an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC grew its stake in 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 buying an additional 15 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in BlackRock during the first quarter worth about $31,000. Finally, Cheviot Value Management LLC bought a new stake in BlackRock during the first quarter worth about $30,000. Institutional investors own 80.69% of the company's stock.

Insider Activity

In related news, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the firm's stock in a transaction 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 sale, the director 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by company insiders.

BlackRock Price Performance

Shares of BLK stock opened at $1,161.63 on Monday. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The stock has a market cap of $179.88 billion, a PE ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm's 50 day moving average price is $1,140.85 and its two-hundred day moving average price is $1,043.90.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the business posted $11.46 earnings per share. BlackRock's revenue was up 25.2% compared to the same quarter last year. As a group, analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio (DPR) is 53.59%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BLK. BMO Capital Markets began coverage on shares of BlackRock in a research note on Friday, October 3rd. They set an "outperform" rating and a $1,280.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an "outperform" rating in a research note on Monday, October 13th. Cowen reissued a "buy" rating on shares of BlackRock in a research note on Wednesday. Citigroup increased their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Finally, Argus increased their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,300.81.

BlackRock Company 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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