Moran Wealth Management LLC Takes Position in BlackRock $BLK

Key Points

• Moran Wealth Management LLC has acquired a new stake in BlackRock, purchasing 9,683 shares valued at approximately $10.16 million, signaling growing institutional interest in the company.
• BlackRock reported strong financial performance in its recent earnings, with an earnings per share (EPS) of $12.05, exceeding the consensus estimate and reflecting a 12.9% year-over-year revenue increase.
• The company's quarterly dividend of $5.21 per share has been declared, representing an annualized payout of $20.84 and a yield of 1.8%.

Moran Wealth Management LLC purchased a new stake in shares of BlackRock (NYSE:BLK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,683 shares of the asset manager's stock, valued at approximately $10,160,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC raised its holdings in shares of BlackRock by 76.5% during 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 in the last quarter. Game Plan Financial Advisors LLC raised 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 in the last quarter. Garde Capital Inc. raised its holdings in shares of BlackRock by 200.0% during 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 in the last quarter. Cheviot Value Management LLC bought a new position in BlackRock in the 1st quarter worth $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock in the 1st quarter worth $31,000. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

NYSE BLK opened at $1,156.20 on Tuesday. 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 firm has a market capitalization of $179.04 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.15 and a beta of 1.45. The company's fifty day moving average is $1,135.66 and its two-hundred day moving average is $1,037.02. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,184.13.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $10.36 EPS. Equities research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

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

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of BlackRock 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 approximately $283,267,354.71. The trade was a 4.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLK. Weiss Ratings reiterated a "buy (b-)" rating on shares of BlackRock in a report on Wednesday, October 8th. UBS Group reiterated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. TD Cowen lifted their target price on shares of BlackRock from $1,252.00 to $1,301.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Morgan Stanley lifted their target price on shares of BlackRock from $1,224.00 to $1,362.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,263.31.

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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