Consolidated Capital Management LLC Has $5.61 Million Holdings in BlackRock $BLK

Key Points

• Consolidated Capital Management LLC increased its holdings in BlackRock by 6.0% in the second quarter, owning a total of 5,350 shares worth approximately $5.61 million.
• BlackRock reported earnings of $12.05 per share for the last quarter, exceeding the analysts' expectations and showing a year-over-year revenue growth of 12.9%.
• The company recently announced a quarterly dividend of $5.21 per share, reflecting an annualized dividend yield of 1.8%.

Consolidated Capital Management LLC grew its position in BlackRock (NYSE:BLK - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the asset manager's stock after buying an additional 305 shares during the quarter. BlackRock makes up approximately 2.0% of Consolidated Capital Management LLC's portfolio, making the stock its 20th largest position. Consolidated Capital Management LLC's holdings in BlackRock were worth $5,613,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC boosted its position in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock worth $1,078,000 after buying an additional 17 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of BlackRock during the fourth quarter valued at $216,000. Moody National Bank Trust Division acquired a new position in BlackRock during the first quarter valued at $519,000. Finally, Bath Savings Trust Co lifted its stake in BlackRock by 48.7% in the 1st quarter. Bath Savings Trust Co now owns 397 shares of the asset manager's stock worth $376,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Performance

BLK stock opened at $1,157.69 on Friday. The firm has a 50 day moving average of $1,124.77 and a two-hundred day moving average of $1,020.52. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The company has a market capitalization of $179.27 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 2.21 and a beta of 1.45. 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 (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share 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 15.53%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm earned $10.36 EPS. BlackRock's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BLK shares. Bank of America lifted their target price on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Morgan Stanley dropped their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,154.07.

Insider Buying and Selling

In related news, Director Rachel Lord sold 18,036 shares of the business'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 value of $20,301,321.60. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $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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