Thrive Wealth Management LLC Takes $222,000 Position in BlackRock, Inc. (NYSE:BLK)

Thrive Wealth Management LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 321 shares of the asset manager’s stock, valued at approximately $222,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Steward Financial Group LLC acquired a new position in BlackRock in the fourth quarter valued at about $31,000. Tyler Stone Wealth Management lifted its holdings in shares of BlackRock by 71.4% in the 4th quarter. Tyler Stone Wealth Management now owns 48 shares of the asset manager’s stock worth $34,000 after acquiring an additional 20 shares during the last quarter. Centerpoint Advisors LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $34,000. Sittner & Nelson LLC raised its position in BlackRock by 48.6% in the first quarter. Sittner & Nelson LLC now owns 52 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Finally, Barrett & Company Inc. acquired a new position in BlackRock during the first quarter worth $38,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.4 %

BLK stock opened at $694.89 on Tuesday. The stock has a market cap of $103.75 billion, a P/E ratio of 20.29, a PEG ratio of 1.98 and a beta of 1.29. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.36. BlackRock, Inc. has a twelve month low of $503.12 and a twelve month high of $785.65. The company’s 50 day moving average is $706.56 and its two-hundred day moving average is $681.26.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, July 14th. The asset manager reported $9.28 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.76. BlackRock had a net margin of 29.90% and a return on equity of 14.29%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same period in the previous year, the company earned $7.36 earnings per share. BlackRock’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $5.00 per share. The ex-dividend date is Thursday, September 7th. This represents a $20.00 annualized dividend and a dividend yield of 2.88%. BlackRock’s dividend payout ratio (DPR) is 58.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on BlackRock from $780.00 to $820.00 in a report on Monday, July 17th. Morgan Stanley increased their price target on shares of BlackRock from $881.00 to $888.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $770.00 to $835.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $780.00 to $785.00 in a research note on Monday, July 17th. Finally, Citigroup increased their price objective on BlackRock from $750.00 to $815.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $767.69.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 2,079 shares of BlackRock stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $733.82, for a total value of $1,525,611.78. Following the transaction, the director now directly owns 6,160 shares in the company, valued at approximately $4,520,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 20,200 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total transaction of $14,989,208.00. Following the completion of the transaction, the chief executive officer now owns 464,125 shares in the company, valued at approximately $344,399,315. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 2,079 shares of BlackRock stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $733.82, for a total transaction of $1,525,611.78. Following the completion of the sale, the director now directly owns 6,160 shares in the company, valued at approximately $4,520,331.20. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

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.