Newbridge Financial Services Group Inc. Raises Stock Holdings in BlackRock $BLK

Newbridge Financial Services Group Inc. grew its stake in shares of BlackRock (NYSE:BLK) by 368.8% during the second quarter, Holdings Channel reports. The institutional investor owned 811 shares of the asset manager’s stock after buying an additional 638 shares during the period. Newbridge Financial Services Group Inc.’s holdings in BlackRock were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Game Plan Financial Advisors LLC lifted its holdings in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. Garde Capital Inc. raised its position in shares of BlackRock by 200.0% during 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. Traub Capital Management LLC purchased a new position in shares of BlackRock during the 2nd quarter valued at $28,000. Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock worth $30,000 after buying an additional 15 shares during the period. Finally, Creekmur Asset Management LLC increased its stake in BlackRock by 87.5% in the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after buying an additional 14 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Rachel Lord sold 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director owned 7,205 shares in the company, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Martin Small sold 1,258 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the transaction, the chief financial officer owned 6,209 shares in the company, valued at $6,478,346.42. This trade represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.98% of the company’s stock.

BlackRock Trading Down 1.2%

Shares of BLK opened at $1,088.99 on Friday. The stock has a market capitalization of $168.96 billion, a PE ratio of 28.00, a P/E/G ratio of 1.70 and a beta of 1.47. The company’s fifty day moving average is $1,092.11 and its 200 day moving average is $1,088.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.33 and a current ratio of 3.33. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. During the same period in the previous year, the business earned $11.46 earnings per share. The business’s quarterly revenue was up 25.2% on a year-over-year basis. Sell-side 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, December 23rd. Shareholders of record on Friday, December 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s payout ratio is presently 53.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Cowen restated a “buy” rating on shares of BlackRock in a research note on Wednesday, October 15th. Barclays reduced their price objective on shares of BlackRock from $1,360.00 to $1,340.00 and set an “overweight” rating on the stock in a research report on Friday. Loop Capital set a $1,255.00 target price on shares of BlackRock in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Monday, December 8th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,313.65.

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.