Executive Wealth Management LLC Acquires 997 Shares of BlackRock, Inc. (NYSE:BLK)

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Executive Wealth Management LLC increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 10.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,770 shares of the asset manager’s stock after purchasing an additional 997 shares during the quarter. BlackRock accounts for 0.7% of Executive Wealth Management LLC’s holdings, making the stock its 26th biggest position. Executive Wealth Management LLC’s holdings in BlackRock were worth $5,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Advisory Alpha LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $26,000. Valley National Advisers Inc. grew its stake in shares of BlackRock by 81.8% during the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after acquiring an additional 27 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in shares of BlackRock during the 2nd quarter worth approximately $38,000. Harvest Group Wealth Management LLC bought a new position in shares of BlackRock during the 1st quarter worth approximately $37,000. Finally, Rational Advisors LLC grew its stake in shares of BlackRock by 260.0% during the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after acquiring an additional 65 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Shares of BlackRock stock opened at $425.33 on Wednesday. The firm’s fifty day simple moving average is $464.04. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $492.00. The firm has a market cap of $65.75 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.51. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business earned $6.66 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that BlackRock, Inc. will post 27.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is 49.02%.

BLK has been the subject of several research reports. UBS Group raised their price target on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Wells Fargo & Co raised their price target on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research note on Wednesday, April 17th. Barclays raised their price target on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their price target on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $499.03.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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