Rowlandmiller & PARTNERS.ADV Purchases 410 Shares of BlackRock $BLK

Key Points

• Rowlandmiller & PARTNERS.ADV increased its investment in BlackRock by 47.9% during Q2, adding 410 shares to reach a total of 1,266 shares valued at approximately $1,322,000.
• BlackRock reported an earnings per share (EPS) of $12.05 for the last quarter, surpassing the consensus estimate of $10.41, with revenues of $5.42 billion, up 12.9% year-over-year.
• The company announced a quarterly dividend of $5.21 per share, scheduled for payment on September 23rd, which equates to an annualized dividend yield of 1.9%.

Rowlandmiller & PARTNERS.ADV grew its position in BlackRock (NYSE:BLK - Free Report) by 47.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,266 shares of the asset manager's stock after acquiring an additional 410 shares during the quarter. Rowlandmiller & PARTNERS.ADV's holdings in BlackRock were worth $1,322,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of BlackRock during the 1st quarter worth approximately $5,334,000. Swedbank AB lifted its position in shares of BlackRock by 0.4% during the 1st quarter. Swedbank AB now owns 85,878 shares of the asset manager's stock worth $81,282,000 after buying an additional 337 shares during the period. Voya Investment Management LLC lifted its position in shares of BlackRock by 2.1% during the 1st quarter. Voya Investment Management LLC now owns 40,590 shares of the asset manager's stock worth $38,417,000 after buying an additional 822 shares during the period. eCIO Inc. bought a new position in shares of BlackRock during the 1st quarter worth approximately $234,000. Finally, Modern Wealth Management LLC lifted its position in shares of BlackRock by 14.4% during the 1st quarter. Modern Wealth Management LLC now owns 794 shares of the asset manager's stock worth $752,000 after buying an additional 100 shares during the period. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 0.9%

NYSE BLK opened at $1,124.34 on Friday. The stock has a fifty day moving average of $1,115.88 and a 200-day moving average of $1,007.01. The stock has a market capitalization of $174.10 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current 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 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The company had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $10.36 EPS. On average, equities research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Transactions at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 over the last quarter. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BLK. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Bank of America raised their target price on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a research report on Tuesday, July 8th. Jefferies Financial Group raised their price target on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Finally, Morgan Stanley dropped their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,154.07.

BlackRock Company 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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