Simplicity Wealth LLC Buys 30 Shares of BlackRock, Inc. (NYSE:BLK)

VaselineAugust 9, 2024

0 4 minutes read

Simplicity Wealth LLC boosted its stake in BlackRock, Inc. (NYSE:BLK – Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,627 shares of the asset manager’s stock after purchasing an additional 30 shares during the period. Simplicity Wealth LLC’s holdings in BlackRock were worth $2,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC lifted its stake in BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in BlackRock in the 4th quarter valued at approximately $439,000. Louisiana State Employees Retirement System acquired a new position in BlackRock in the 4th quarter valued at approximately $6,900,000. Zhang Financial LLC increased its position in BlackRock by 24.0% in the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 171 shares during the period. Finally, California State Teachers Retirement System increased its position in BlackRock by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after acquiring an additional 1,647 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Citigroup upped their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI increased their price objective on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average target price of $872.29.

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BlackRock Stock Up 1.7 %

BlackRock stock opened at $854.47 on Friday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The firm has a market capitalization of $126.97 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The firm’s fifty day moving average price is $808.67 and its two-hundred day moving average price is $799.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the firm earned $9.28 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,959 shares of company stock valued at $73,660,507. Company insiders own 0.90% of the company’s stock.

BlackRock Company Profile

(Free Report)

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.