Bogart Wealth LLC Raises Stake in BlackRock (NYSE:BLK)

Bogart Wealth LLC raised its stake in BlackRock (NYSE:BLK - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,650 shares of the asset manager's stock after buying an additional 237 shares during the quarter. BlackRock makes up approximately 0.7% of Bogart Wealth LLC's investment portfolio, making the stock its 25th largest position. Bogart Wealth LLC's holdings in BlackRock were worth $14,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Investment Management Corp VA ADV acquired a new position in BlackRock during the 4th quarter worth about $30,000. Fairway Wealth LLC raised its position in 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 purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in BlackRock in the 1st quarter valued at about $31,000. Curio Wealth LLC acquired a new stake in BlackRock in the 4th quarter valued at about $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in BlackRock in the 4th quarter valued at about $43,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Citigroup cut their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Argus reissued a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,132.29.

BlackRock Stock Down 0.1%

BLK opened at $1,102.63 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The business has a 50 day simple moving average of $996.68 and a 200-day simple moving average of $970.45. The stock has a market capitalization of $170.83 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.22 and a beta of 1.41. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,105.72.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 EPS. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.89%. BlackRock's dividend payout ratio is presently 50.63%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate 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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