BlackRock $BLK Shares Acquired by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lifted its holdings in BlackRock (NYSE:BLK) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,405 shares of the asset manager’s stock after buying an additional 752 shares during the period. Trifecta Capital Advisors LLC’s holdings in BlackRock were worth $5,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. lifted its stake in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares in the last quarter. Fairway Wealth LLC lifted its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC lifted its stake in shares of 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 buying an additional 15 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BlackRock in the first quarter worth about $31,000. Finally, Cheviot Value Management LLC purchased a new position in shares of BlackRock in the first quarter worth about $30,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BLK opened at $1,163.72 on Thursday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13. The stock has a market cap of $180.21 billion, a PE ratio of 28.14, a P/E/G ratio of 2.20 and a beta of 1.45. The firm has a 50-day simple moving average of $1,132.82 and a two-hundred day simple moving average of $1,032.16. 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 (NYSE:BLK) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business earned $10.36 earnings per share. As a group, analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. BlackRock’s payout ratio is 50.39%.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of BlackRock 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 transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock 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 transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on BLK shares. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Jefferies Financial Group lifted their target price on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,254.47.

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.