Chesapeake Wealth Management Has $920,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Chesapeake Wealth Management trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,168 shares of the asset manager’s stock after selling 79 shares during the period. Chesapeake Wealth Management’s holdings in BlackRock were worth $920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. XML Financial LLC boosted its holdings in BlackRock by 2.6% in the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after acquiring an additional 12 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of BlackRock by 6.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 13 shares during the last quarter. Forza Wealth Management LLC grew its position in shares of BlackRock by 1.3% during the 2nd quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in BlackRock by 17.1% in the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 13 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 in the last three months. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company started coverage on shares of BlackRock in a research report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 target price for the company. Evercore ISI upped their price objective on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Argus raised their target price on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $902.13.

BlackRock Stock Down 0.7 %

BLK stock opened at $928.79 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a market capitalization of $138.02 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73. The business has a 50-day moving average of $868.55 and a 200-day moving average of $817.96.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.28 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.20%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

BlackRock Company 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.