BlackRock $BLK Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its position in BlackRock (NYSE:BLK) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,071 shares of the asset manager’s stock after buying an additional 348 shares during the period. Axxcess Wealth Management LLC’s holdings in BlackRock were worth $3,223,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Moran Wealth Management LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $10,160,000. Revolve Wealth Partners LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $380,000. Cornerstone Wealth Group LLC boosted its holdings in shares of BlackRock by 3.3% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 6,150 shares of the asset manager’s stock worth $6,453,000 after purchasing an additional 196 shares during the last quarter. NorthRock Partners LLC boosted its holdings in shares of BlackRock by 2.6% during the 2nd quarter. NorthRock Partners LLC now owns 1,630 shares of the asset manager’s stock worth $1,711,000 after purchasing an additional 42 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of BlackRock by 1.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,284 shares of the asset manager’s stock worth $1,347,000 after purchasing an additional 17 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fabrizio Freda sold 4,434 shares of the business’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 sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is owned by company insiders.

BlackRock Stock Up 3.3%

BLK stock opened at $1,193.23 on Wednesday. The firm has a market cap of $184.77 billion, a PE ratio of 28.85, a PEG ratio of 2.10 and a beta of 1.45. 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 firm’s 50 day moving average price is $1,137.33 and its 200-day moving average price is $1,038.10. BlackRock has a one year low of $773.74 and a one year high of $1,209.82.

BlackRock (NYSE:BLK) last announced its earnings results 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 firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $11.46 EPS. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on BLK. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,221.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. TD Cowen boosted their target price on BlackRock from $1,252.00 to $1,301.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Barclays lifted their price target on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $1,263.31.

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.