HB Wealth Management LLC Buys 1,787 Shares of BlackRock (NYSE:BLK)

Key Points

• HB Wealth Management LLC boosted its stake in BlackRock by 27.8%, acquiring an additional 1,787 shares, bringing its total holdings to 8,204 shares valued at approximately $7.77 million.
• BlackRock announced a quarterly dividend of $5.21, equating to an annualized dividend of $20.84 and a yield of 1.85%, with the payout ratio currently at 50.39%.
• Analysts maintain a consensus rating of "Moderate Buy" for BlackRock, with a target price averaging $1,151.21, as several firms issued positive ratings recently.

HB Wealth Management LLC boosted its position in BlackRock (NYSE:BLK - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,204 shares of the asset manager's stock after purchasing an additional 1,787 shares during the quarter. HB Wealth Management LLC's holdings in BlackRock were worth $7,766,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its holdings in shares of BlackRock by 2.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after acquiring an additional 11 shares in the last quarter. Detalus Advisors LLC raised its holdings in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after acquiring an additional 11 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in BlackRock by 20.4% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after acquiring an additional 11 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in BlackRock by 1.6% in the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock valued at $806,000 after acquiring an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK traded up $0.99 during mid-day trading on Wednesday, hitting $1,122.52. 112,233 shares of the stock traded hands, compared to its average volume of 785,223. The company has a market cap of $173.91 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,130.66. The firm has a 50 day simple moving average of $1,032.58 and a two-hundred day simple moving average of $978.79.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. BlackRock's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $10.36 EPS. As a group, equities research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of the 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 transaction, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,352 shares of company stock valued at $55,486,962. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays lifted their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. lifted 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. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Bank of America lifted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.