Golden State Equity Partners Has $1.80 Million Stock Holdings in BlackRock $BLK

Key Points

• Golden State Equity Partners increased its holdings in BlackRock by 17.7%, amounting to investments worth approximately $1.80 million following an additional purchase of 258 shares.
• Recent insider trading activity saw Director Rachel Lord selling 18,036 shares valued at over $20 million, reducing her ownership by 48.43%.
• BlackRock is projected to report 47.41 earnings per share for the current year, and has a dividend yield of 1.8%, with a quarterly dividend of $5.21 recently announced.

Golden State Equity Partners increased its position in BlackRock (NYSE:BLK - Free Report) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,712 shares of the asset manager's stock after purchasing an additional 258 shares during the quarter. Golden State Equity Partners' holdings in BlackRock were worth $1,796,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BLK. Fairway Wealth LLC increased its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC grew its holdings in shares of BlackRock by 100.0% during 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. lifted 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 acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new stake in BlackRock during the 1st quarter worth $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $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 firm's stock in a transaction dated Friday, July 25th. The shares were 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 owned 19,205 shares of the company's stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price objective on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Bank of America raised their price target 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 lifted their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company decreased their price target on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,154.07.

BlackRock Price Performance

NYSE BLK opened at $1,142.76 on Monday. The business's fifty day moving average price is $1,119.82 and its 200-day moving average price is $1,013.56. The stock has a market capitalization of $176.96 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.19 and a beta of 1.45. 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.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate 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%.BlackRock's quarterly 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 earnings per share. On average, equities analysts predict 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. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

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.

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