Hollencrest Capital Management Buys 20 Shares of BlackRock, Inc. (NYSE:BLK)

Hollencrest Capital Management increased its stake in BlackRock, Inc. (NYSE:BLK) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 611 shares of the asset manager’s stock after purchasing an additional 20 shares during the period. Hollencrest Capital Management’s holdings in BlackRock were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC boosted its position in shares of BlackRock by 6.1% during the second quarter. Angeles Wealth Management LLC now owns 381 shares of the asset manager’s stock worth $263,000 after buying an additional 22 shares during the period. Personal CFO Solutions LLC grew its stake in shares of BlackRock by 2.2% during the 2nd quarter. Personal CFO Solutions LLC now owns 796 shares of the asset manager’s stock worth $550,000 after acquiring an additional 17 shares in the last quarter. First Commonwealth Financial Corp PA raised its holdings in shares of BlackRock by 2.1% in the second quarter. First Commonwealth Financial Corp PA now owns 875 shares of the asset manager’s stock valued at $605,000 after purchasing an additional 18 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of BlackRock by 3.5% in the second quarter. Commonwealth Equity Services LLC now owns 42,014 shares of the asset manager’s stock worth $29,038,000 after purchasing an additional 1,435 shares in the last quarter. Finally, AXS Investments LLC boosted its holdings in BlackRock by 90.9% during the second quarter. AXS Investments LLC now owns 3,879 shares of the asset manager’s stock worth $2,681,000 after purchasing an additional 1,847 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 15,385 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $652.03, for a total value of $10,031,481.55. Following the completion of the sale, the chief executive officer now owns 435,260 shares of the company’s stock, valued at $283,802,577.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. Jefferies Financial Group cut their price target on shares of BlackRock from $781.00 to $754.00 in a research report on Tuesday, October 10th. Morgan Stanley increased their price target on BlackRock from $836.00 to $897.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. StockNews.com assumed coverage on BlackRock in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of BlackRock from $814.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. Finally, Wells Fargo & Company dropped their price target on shares of BlackRock from $820.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $764.75.

BlackRock Stock Performance

NYSE BLK opened at $716.86 on Friday. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $781.77. The stock has a market cap of $106.64 billion, a PE ratio of 20.11, a P/E/G ratio of 2.22 and a beta of 1.28. The firm has a 50-day moving average of $651.87 and a 200-day moving average of $676.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.72 and a current ratio of 3.72.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 13th. The asset manager reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.34 by $2.57. BlackRock had a net margin of 30.66% and a return on equity of 14.65%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the business posted $9.55 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock, Inc. will post 36.44 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, December 7th will be issued a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, December 6th. BlackRock’s dividend payout ratio is 56.10%.

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.