Anderson Financial Strategies LLC Takes Position in BlackRock $BLK

Anderson Financial Strategies LLC purchased a new stake in shares of BlackRock (NYSE:BLK) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35 shares of the asset manager’s stock, valued at approximately $33,000.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC boosted its position 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 increased its holdings in BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 15 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in BlackRock in the fourth quarter valued at approximately $30,000. Cheviot Value Management LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $31,000. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction that occurred on 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 transaction, the chief executive officer owned 251,697 shares of the company’s stock, valued at $283,267,354.71. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BLK. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,115.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,154.07.

BlackRock Trading Down 0.2%

Shares of BlackRock stock opened at $1,102.93 on Thursday. The company has a market capitalization of $170.79 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.45. The stock has a fifty day simple moving average of $1,113.75 and a 200 day simple moving average of $1,004.60. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating 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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the business earned $10.36 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio is presently 50.39%.

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.