Lineweaver Wealth Advisors LLC Has $4.22 Million Holdings in BlackRock $BLK

Lineweaver Wealth Advisors LLC increased its holdings in BlackRock (NYSE:BLK) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,023 shares of the asset manager’s stock after acquiring an additional 351 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in BlackRock were worth $4,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the last quarter. GAMMA Investing LLC increased its stake in BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Royal Bank of Canada increased its stake in BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BlackRock by 10.2% in the 1st 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 buying an additional 111,694 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BLK. Morgan Stanley decreased their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Jefferies Financial Group increased their target price on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Argus reissued a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Barclays increased their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Evercore ISI increased their target price on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,154.07.

Insider Activity at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction 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 transaction, the director owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. 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.

BlackRock Stock Performance

BlackRock stock opened at $1,118.01 on Wednesday. The firm’s fifty day moving average price is $1,117.47 and its 200-day moving average price is $1,009.52. 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 cap of $173.12 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 2.13 and a beta of 1.45. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89.

BlackRock (NYSE:BLK) last posted 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. The firm had revenue of $5.42 billion for 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $10.36 EPS. On average, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock’s dividend payout ratio (DPR) 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.