Revolve Wealth Partners LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Revolve Wealth Partners LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 282 shares of the asset manager’s stock, valued at approximately $268,000.

Other large investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the 1st quarter worth about $27,000. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter worth about $31,000. Chilton Capital Management LLC bought a new position in shares of BlackRock in the 1st quarter worth about $38,000. Olistico Wealth LLC bought a new position in shares of BlackRock in the 2nd quarter worth about $53,000. Finally, ORG Partners LLC lifted its position in shares of BlackRock by 257.9% in the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after buying an additional 49 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 11,061 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $852.95, for a total transaction of $9,434,479.95. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,527,116. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,042 shares of company stock worth $56,857,777. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.5 %

BlackRock stock opened at $1,007.02 on Friday. The stock has a market cap of $149.64 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $915.45 and its two-hundred day moving average price is $837.50. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $1,032.00.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $10.91 EPS. On average, analysts expect that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BLK shares. Evercore ISI raised their price target on shares of BlackRock from $995.00 to $1,040.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group cut their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $991.46.

About BlackRock

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.