Prestige Wealth Management Group LLC Buys 314 Shares of BlackRock, Inc. (NYSE:BLK)

Prestige Wealth Management Group LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 70.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 760 shares of the asset manager’s stock after purchasing an additional 314 shares during the period. Prestige Wealth Management Group LLC’s holdings in BlackRock were worth $598,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of BlackRock during the 4th quarter valued at $1,812,920,000. Capital World Investors boosted its holdings in BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after buying an additional 1,279,952 shares during the last quarter. Capital Research Global Investors grew its position in shares of BlackRock by 23.7% during the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after buying an additional 749,654 shares during the period. Mayflower Financial Advisors LLC increased its stake in shares of BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after acquiring an additional 414,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BLK shares. Citigroup lifted their price target on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Argus increased their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $883.13.

BlackRock Stock Down 1.1 %

BlackRock stock traded down $9.72 during mid-day trading on Friday, reaching $866.92. The company’s stock had a trading volume of 748,945 shares, compared to its average volume of 587,817. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $903.46. The business’s 50 day simple moving average is $848.57 and its 200 day simple moving average is $811.87. The company has a market capitalization of $128.82 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company earned $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

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.