Enclave Advisors LLC Makes New Investment in BlackRock $BLK

Key Points

• Enclave Advisors LLC has acquired a new position in BlackRock, purchasing 227 shares valued at approximately $238,000 during the second quarter.
• BlackRock's Director Rachel Lord and CEO Laurence Fink both sold a significant number of shares on July 25th, with Lord selling 18,036 shares and Fink selling 12,054 shares, reflecting a decrease in their respective ownership stakes.
• The company's most recent earnings report showed an EPS of $12.05, exceeding expectations, and it also announced a quarterly dividend of $5.21 per share with a yield of 1.8%.

Enclave Advisors LLC bought a new position in shares of BlackRock (NYSE:BLK - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 227 shares of the asset manager's stock, valued at approximately $238,000.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC boosted its stake in shares of 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 during the last quarter. Game Plan Financial Advisors LLC boosted its stake in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. boosted its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock valued at $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $31,000. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other BlackRock 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 transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company's stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLK shares. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. UBS Group reiterated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report 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. Finally, Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,154.07.

BlackRock Stock Up 0.9%

Shares of NYSE:BLK opened at $1,157.69 on Monday. 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 debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business's 50-day moving average is $1,124.77 and its 200-day moving average is $1,021.36. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm's revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $10.36 EPS. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's payout ratio is currently 50.39%.

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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