Bar Harbor Wealth Management Has $1.37 Million Position in BlackRock $BLK

Bar Harbor Wealth Management cut its holdings in BlackRock (NYSE:BLK) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,307 shares of the asset manager’s stock after selling 40 shares during the quarter. Bar Harbor Wealth Management’s holdings in BlackRock were worth $1,371,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. McLean Asset Management Corp grew its stake in shares of BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after acquiring an additional 10 shares in the last quarter. Trust Co. of Oklahoma grew its stake in shares of BlackRock by 0.5% in the second quarter. Trust Co. of Oklahoma now owns 2,023 shares of the asset manager’s stock valued at $2,123,000 after buying an additional 10 shares in the last quarter. TOWER TRUST & INVESTMENT Co grew its stake in shares of BlackRock by 1.3% in the second quarter. TOWER TRUST & INVESTMENT Co now owns 799 shares of the asset manager’s stock valued at $838,000 after buying an additional 10 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in shares of BlackRock by 4.7% in the second quarter. Ashton Thomas Securities LLC now owns 223 shares of the asset manager’s stock valued at $234,000 after buying an additional 10 shares in the last quarter. Finally, Ameriflex Group Inc. grew its stake in shares of BlackRock by 8.8% in the second quarter. Ameriflex Group Inc. now owns 123 shares of the asset manager’s stock valued at $127,000 after buying an additional 10 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on BlackRock from $1,093.00 to $1,242.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Bank of America lifted their target price on BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,221.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen lifted their target price on BlackRock from $1,252.00 to $1,301.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of BlackRock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,258.13.

BlackRock Stock Performance

BlackRock stock opened at $1,165.64 on Friday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,184.13. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $1,134.03 and its two-hundred day moving average price is $1,033.55. The stock has a market cap of $180.50 billion, a PE ratio of 28.18, a P/E/G ratio of 2.21 and a beta of 1.45.

BlackRock (NYSE:BLK) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the previous year, the business posted $10.36 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s payout ratio is currently 50.39%.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company’s stock.

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.