GC Wealth Management RIA LLC Purchases 1,691 Shares of BlackRock $BLK

Key Points

• GC Wealth Management RIA LLC significantly increased its holdings in BlackRock by purchasing 1,691 additional shares, bringing its total ownership to 1,945 shares worth approximately $2,041,000.
• BlackRock recently announced a quarterly dividend of $5.21 per share, resulting in an annual dividend yield of 1.8%, with a payout ratio of 50.39%.
• BlackRock's stock price reached $1,173.98, with a recent earnings report indicating $12.05 EPS, outperforming estimates and showcasing a 12.9% revenue growth year-over-year.

GC Wealth Management RIA LLC grew its position in shares of BlackRock (NYSE:BLK - Free Report) by 665.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,945 shares of the asset manager's stock after buying an additional 1,691 shares during the quarter. GC Wealth Management RIA LLC's holdings in BlackRock were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada lifted its position in BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after buying an additional 555,098 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after buying an additional 279,336 shares during the period. Unisphere Establishment grew its holdings in BlackRock by 29.2% during the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager's stock valued at $794,570,000 after purchasing an additional 189,500 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of BlackRock by 58.8% in the 1st quarter. Alliancebernstein L.P. now owns 381,447 shares of the asset manager's stock valued at $361,032,000 after buying an additional 141,258 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last three months. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.5%

BLK stock opened at $1,173.98 on Tuesday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,182.14. 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 $181.79 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.21 and a beta of 1.45. The business's fifty day moving average price is $1,126.36 and its two-hundred day moving average price is $1,023.07.

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, beating the consensus estimate 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 period in the prior year, the company posted $10.36 earnings per share. BlackRock's revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

BLK has been the topic of several research reports. Bank of America boosted their price objective 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. Evercore ISI raised 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 note on Friday, September 5th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Citigroup boosted their price target on BlackRock from $1,200.00 to $1,350.00 and gave the stock a "buy" rating in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,171.93.

BlackRock Company 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.

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