Ignite Planners LLC Raises Position in BlackRock $BLK

Ignite Planners LLC raised its holdings in shares of BlackRock (NYSE:BLK) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477 shares of the asset manager’s stock after acquiring an additional 14 shares during the quarter. Ignite Planners LLC’s holdings in BlackRock were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Morton Capital Management LLC CA purchased a new position in shares of BlackRock during the 2nd quarter worth $217,000. Valmark Advisers Inc. raised its position in shares of BlackRock by 1.3% during the 2nd quarter. Valmark Advisers Inc. now owns 1,428 shares of the asset manager’s stock valued at $1,498,000 after purchasing an additional 18 shares during the period. Hall Capital Management Co. Inc. raised its position in shares of BlackRock by 9.4% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 360 shares of the asset manager’s stock valued at $378,000 after purchasing an additional 31 shares during the period. Abel Hall LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at $245,000. Finally, REAP Financial Group LLC raised its position in shares of BlackRock by 60.0% during the 2nd quarter. REAP Financial Group LLC now owns 200 shares of the asset manager’s stock valued at $210,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore ISI raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of BlackRock in a research report on Wednesday. Barclays raised their price objective on shares of BlackRock from $1,210.00 to $1,310.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group reiterated a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,254.47.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last quarter. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Down 0.2%

Shares of NYSE BLK opened at $1,163.72 on Thursday. The firm’s 50-day moving average price is $1,132.82 and its 200-day moving average price is $1,032.16. 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 stock has a market capitalization of $180.21 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 2.20 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (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 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 revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $10.36 EPS. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal 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 given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio is currently 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.