Revolve Wealth Partners LLC Takes Position in BlackRock $BLK

Key Points

• Revolve Wealth Partners LLC acquired a new stake in BlackRock, purchasing 362 shares valued at approximately $380,000 in the second quarter.
• Institutional investors, including Royal Bank of Canada and Vanguard Group, have significantly increased their holdings in BlackRock, indicating strong institutional confidence in the firm.
• BlackRock recently announced a quarterly dividend of $5.21 per share, with an annualized yield of 1.8% and a payout ratio of 50.39%.

Revolve Wealth Partners LLC acquired a new stake in BlackRock (NYSE:BLK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 362 shares of the asset manager's stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Royal Bank of Canada boosted its holdings in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock valued at $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after purchasing an additional 279,336 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in BlackRock during the second quarter valued at approximately $231,000. Finally, Unisphere Establishment lifted its stake 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 last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last quarter. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLK. BMO Capital Markets began coverage on shares of BlackRock in a research note on Friday, October 3rd. They set an "outperform" rating and a $1,280.00 target price for the company. BNP Paribas Exane increased their target price on shares of BlackRock from $1,160.00 to $1,265.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Barclays increased their target price on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of BlackRock in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, BlackRock has an average rating of "Moderate Buy" and an average target price of $1,263.31.

BlackRock Trading Up 2.1%

BlackRock stock opened at $1,156.20 on Tuesday. The company has a 50 day moving average price of $1,135.66 and a 200 day moving average price of $1,037.02. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current 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.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business posted $10.36 EPS. The company's revenue was up 12.9% on a year-over-year basis. Research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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