CreativeOne Wealth LLC Grows Stock Holdings in BlackRock $BLK

Key Points

• CreativeOne Wealth LLC increased its holdings in BlackRock by 42.0% to 1,027 shares, worth approximately $972,000, during the first quarter.
• BlackRock's CEO Laurence Fink recently sold 14,828 shares valued at around $16.6 million, reducing his ownership stake by 5.32%.
• The company reported earnings of $12.05 per share, beating expectations, with a 12.9% year-over-year increase in revenue to $5.42 billion.

CreativeOne Wealth LLC boosted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 42.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,027 shares of the asset manager's stock after acquiring an additional 304 shares during the period. CreativeOne Wealth LLC's holdings in BlackRock were worth $972,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BLK. Detalus Advisors LLC grew its holdings in BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after buying an additional 11 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in BlackRock by 20.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after buying an additional 11 shares in the last quarter. Rothschild Investment LLC grew its holdings in BlackRock by 2.1% during the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager's stock valued at $548,000 after buying an additional 12 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in BlackRock by 3.0% during the 1st quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager's stock valued at $427,000 after buying an additional 13 shares in the last quarter. Finally, Crumly & Associates Inc. grew its holdings in BlackRock by 1.5% during the 1st quarter. Crumly & Associates Inc. now owns 864 shares of the asset manager's stock valued at $818,000 after buying an additional 13 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLK. The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Barclays lifted their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Twelve equities research 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, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

BlackRock Trading Up 0.7%

Shares of BLK stock traded up $8.07 during trading hours on Thursday, reaching $1,107.56. 183,683 shares of the stock were exchanged, compared to its average volume of 739,075. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $1,108.42 and its 200-day moving average price is $1,000.33. The firm has a market capitalization of $171.50 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping 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 firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the company earned $10.36 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock's payout ratio is presently 50.39%.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 18,036 shares of the business'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 completion of the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last 90 days. 1.98% of the stock is owned by insiders.

BlackRock 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.