Solidarity Wealth LLC Makes New Investment in BlackRock $BLK

Solidarity Wealth LLC purchased a new stake in shares of BlackRock (NYSE:BLK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,547 shares of the asset manager’s stock, valued at approximately $1,623,000.

A number of other institutional investors also recently modified their holdings of BLK. Garde Capital Inc. grew its stake 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 buying an additional 18 shares during the last quarter. Traub Capital Management LLC acquired a new position in BlackRock during the 2nd quarter worth $28,000. Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the period. Game Plan Financial Advisors LLC grew its position in shares of 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 last quarter. Finally, Creekmur Asset Management LLC grew its position in shares of BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BLK stock opened at $1,048.41 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,219.94. The stock has a market capitalization of $162.66 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a 50 day moving average price of $1,107.94 and a 200 day moving average price of $1,082.60.

BlackRock (NYSE:BLK) last posted its quarterly 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 firm had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock’s revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.46 EPS. Analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, December 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.0%. BlackRock’s payout ratio is currently 53.59%.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 12,000 shares of the business’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 completion of the sale, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BLK shares. Argus upped their price target on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group lifted their price objective on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. BMO Capital Markets upped their price target on BlackRock from $1,280.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on BlackRock from $1,312.00 to $1,305.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, Bank of America boosted their target price on shares of BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,302.59.

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.