Regent Peak Wealth Advisors LLC Purchases New Holdings in BlackRock $BLK

Regent Peak Wealth Advisors LLC acquired a new position in shares of BlackRock (NYSE:BLK) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 489 shares of the asset manager’s stock, valued at approximately $570,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Norges Bank bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $2,644,007,000. Laurel Wealth Advisors LLC raised its stake in BlackRock by 105,267.4% during the second quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock valued at $1,789,915,000 after buying an additional 1,704,280 shares during the last quarter. Franklin Resources Inc. boosted its holdings in BlackRock by 72.5% in the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after acquiring an additional 842,901 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of BlackRock by 1,962.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 792,494 shares of the asset manager’s stock worth $831,524,000 after acquiring an additional 754,060 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.2%

BLK opened at $1,088.96 on Friday. The stock has a market capitalization of $168.95 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.72 and a beta of 1.47. The firm has a 50 day moving average price of $1,075.32 and a 200-day moving average price of $1,093.54. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a return on equity of 14.80% and a net margin of 26.64%.The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.46 EPS. Equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th were issued a $5.21 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock’s dividend payout ratio is currently 53.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLK shares. UBS Group started coverage on shares of BlackRock in a research note on Thursday, December 11th. They issued a “neutral” rating and a $1,180.00 price target on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Monday. BMO Capital Markets increased their price target on shares of BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Finally, Argus upped their price objective on BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,316.18.

Insider Transactions at BlackRock

In related news, CFO Martin Small sold 1,258 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 6,209 shares in the company, valued at approximately $6,478,346.42. The trade was a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the sale, the director directly owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.