BlackRock $BLK Shares Sold by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC lessened its position in shares of BlackRock (NYSE:BLK) by 4.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,500 shares of the asset manager’s stock after selling 70 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in BlackRock were worth $1,573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC increased its holdings in shares of BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares during the period. Game Plan Financial Advisors LLC lifted its position in BlackRock by 100.0% in 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 during the period. Garde Capital Inc. boosted its holdings in 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 in the last quarter. Cheviot Value Management LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company’s stock, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company’s stock.

BlackRock Trading Up 1.7%

BLK stock opened at $1,179.86 on Tuesday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,184.13. The company has a market cap of $182.70 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.18 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $1,130.91 and a 200-day simple moving average of $1,030.30.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $10.36 EPS. On average, equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a report on Saturday, September 27th. Evercore ISI boosted their target price on BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Finally, BMO Capital Markets started coverage on shares of BlackRock in a research report on Friday. They issued an “outperform” rating and a $1,280.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,222.87.

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.