BlackRock $BLK Shares Purchased by Edge Wealth Management LLC

Key Points

• Edge Wealth Management LLC increased its stake in BlackRock by 6.2%, acquiring an additional 927 shares, bringing its total holdings to 15,953 shares valued at approximately $16.74 million.
• BlackRock reported strong earnings, with $12.05 EPS for the quarter, surpassing estimates and demonstrating a 12.9% year-over-year revenue growth.
• The company announced a quarterly dividend of $5.21 per share, reflecting an annualized dividend yield of 1.8%, with a current payout ratio of 50.39%.

Edge Wealth Management LLC boosted its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,953 shares of the asset manager's stock after acquiring an additional 927 shares during the period. BlackRock accounts for about 3.2% of Edge Wealth Management LLC's investment portfolio, making the stock its 11th largest holding. Edge Wealth Management LLC's holdings in BlackRock were worth $16,744,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Fairway Wealth LLC raised its holdings in BlackRock by 76.5% in 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 raised its holdings in BlackRock by 100.0% in 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. Garde Capital Inc. raised its holdings in BlackRock by 200.0% in 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. Cheviot Value Management LLC bought a new stake in shares of BlackRock in the first quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the first quarter worth approximately $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction dated 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 represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company'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 transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at $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. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last three months. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Performance

BLK traded down $8.32 during trading on Tuesday, reaching $1,127.89. 206,704 shares of the company's stock were exchanged, compared to its average volume of 727,059. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $174.65 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.19 and a beta of 1.45. The company's fifty day simple moving average is $1,120.31 and its 200-day simple moving average is $1,014.87.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the company earned $10.36 EPS. The business's revenue was up 12.9% on a year-over-year basis. As a group, research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid 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 1.8%. BlackRock's dividend payout ratio is 50.39%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Jefferies Financial Group boosted their target price on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Evercore ISI boosted their target price on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,154.07.

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.