Ritholtz Wealth Management Has $2.81 Million Stock Position in BlackRock $BLK

Key Points

• Ritholtz Wealth Management increased its stake in BlackRock by 20.1%, bringing its total holding to $2.81 million in shares.
• BlackRock reported $11.55 earnings per share, missing expectations by $0.23, while its revenue increased by 25.2% compared to the previous year.
• The company recently announced a quarterly dividend of $5.21 per share, translating to an annual yield of 1.7%.

Ritholtz Wealth Management raised its position in shares of BlackRock (NYSE:BLK - Free Report) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,675 shares of the asset manager's stock after purchasing an additional 448 shares during the period. Ritholtz Wealth Management's holdings in BlackRock were worth $2,806,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. acquired a new position in BlackRock during the first quarter valued at approximately $7,331,000. Prudent Man Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth $2,018,000. Allianz SE increased its holdings in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after buying an additional 277 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of BlackRock during the first quarter worth $40,868,000. Finally, Community Financial Services Group LLC increased its holdings in shares of BlackRock by 17.2% during the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after buying an additional 836 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

BLK stock opened at $1,201.37 on Thursday. The stock has a market capitalization of $186.03 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. The company's 50-day moving average is $1,138.95 and its 200-day moving average is $1,039.23. 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 has a 1 year low of $773.74 and a 1 year high of $1,219.94.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.BlackRock's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the company earned $11.46 EPS. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction dated 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 in the company, valued at $283,267,354.71. This represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BLK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $1,320.00 price target on shares of BlackRock and gave the stock a "buy" rating in a report on Wednesday. Argus upped their price target on shares of BlackRock from $1,165.00 to $1,330.00 and gave the stock a "buy" rating in a report on Wednesday. Cowen reiterated a "buy" rating on shares of BlackRock in a report on Wednesday. TD Cowen upped their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, BNP Paribas Exane upped their price target on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an "outperform" rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,300.81.

About BlackRock

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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