Accelerate Investment Advisors LLC Has $231,000 Stake in BlackRock $BLK

Accelerate Investment Advisors LLC trimmed its position in BlackRock (NYSE:BLK) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220 shares of the asset manager’s stock after selling 38 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in BlackRock were worth $231,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of BlackRock by 2.9% in 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 in the last quarter. GAMMA Investing LLC grew its position in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the period. Royal Bank of Canada grew its position in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BlackRock by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after acquiring an additional 111,694 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in BlackRock by 32.8% in 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 acquiring an additional 279,336 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction on 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 transaction, the director owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rachel Lord sold 18,036 shares of the company’s 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 transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by insiders.

BlackRock Price Performance

Shares of BLK stock opened at $1,124.34 on Friday. The stock’s fifty day moving average is $1,115.88 and its 200-day moving average is $1,007.38. 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 stock has a market capitalization of $174.10 billion, a PE ratio of 27.18, a PEG 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.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $10.36 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. 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 is 50.39%.

Analyst Ratings Changes

BLK has been the topic of a number of analyst reports. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Argus reiterated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America upped their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Jefferies Financial Group increased their target price on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

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.