Frazier Financial Advisors LLC Has $56,000 Position in BlackRock $BLK

Frazier Financial Advisors LLC boosted its holdings in shares of BlackRock (NYSE:BLK) by 430.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 53 shares of the asset manager’s stock after buying an additional 43 shares during the period. Frazier Financial Advisors LLC’s holdings in BlackRock were worth $56,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC boosted its stake in 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 during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares during the period. Garde Capital Inc. grew its stake in shares of BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 18 shares during the period. Cheviot Value Management LLC bought a new position in shares of BlackRock during the first quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley increased their target price on BlackRock from $1,224.00 to $1,362.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Argus restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America lifted their price objective on BlackRock from $1,224.00 to $1,396.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. The Goldman Sachs Group boosted their price target on BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company lowered their price target 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. One equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,263.31.

Insiders Place Their Bets

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of the firm’s 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 value of $13,565,933.22. Following the sale, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction 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 in the company, valued at $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 2.1%

NYSE BLK opened at $1,156.20 on Tuesday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13. The company has a 50 day moving average of $1,135.66 and a 200-day moving average of $1,037.02. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $179.04 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.15 and a beta of 1.45.

BlackRock (NYSE:BLK) 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 firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $10.36 EPS. On average, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend 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%.

BlackRock 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.