Evexia Wealth LLC Sells 526 Shares of BlackRock, Inc. (NYSE:BLK)

12 Oct 2024, 14:06 by Jessica Moore · The Cerbat Gem

Evexia Wealth LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,002 shares of the asset manager’s stock after selling 526 shares during the period. BlackRock makes up 4.7% of Evexia Wealth LLC’s holdings, making the stock its largest position. Evexia Wealth LLC’s holdings in BlackRock were worth $13,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BLK. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $27,000. Pineridge Advisors LLC bought a new position in shares of BlackRock during the 4th quarter valued at about $28,000. Fairscale Capital LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Lam Group Inc. acquired a new stake in BlackRock during the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC acquired a new position in shares of BlackRock in the fourth quarter valued at approximately $35,000. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 over the last three months. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE BLK traded up $34.67 during trading on Friday, reaching $990.26. The company’s stock had a trading volume of 927,686 shares, compared to its average volume of 576,480. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $996.29. The firm has a 50 day moving average price of $899.39 and a 200 day moving average price of $831.29. The firm has a market capitalization of $147.15 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

BlackRock (NYSE:BLK – Get Free Report) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 41.73 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.06%. BlackRock’s dividend payout ratio is 51.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BLK shares. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley lifted their price objective on shares of BlackRock from $1,036.00 to $1,150.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company increased their target price on shares of BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI increased their price objective on shares of BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $972.23.

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