WESPAC Advisors SoCal LLC Has $7.60 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

WESPAC Advisors SoCal LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,066 shares of the asset manager’s stock after purchasing an additional 150 shares during the period. BlackRock comprises about 2.5% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 15th largest position. WESPAC Advisors SoCal LLC’s holdings in BlackRock were worth $7,604,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trustcore Financial Services LLC grew its stake in shares of BlackRock by 4.2% in the 2nd quarter. Trustcore Financial Services LLC now owns 299 shares of the asset manager’s stock worth $262,000 after acquiring an additional 12 shares in the last quarter. Strategy Asset Managers LLC grew its stake in shares of BlackRock by 2.2% in the 2nd quarter. Strategy Asset Managers LLC now owns 549 shares of the asset manager’s stock worth $481,000 after acquiring an additional 12 shares in the last quarter. Smith Salley & Associates grew its stake in shares of BlackRock by 1.0% in the 2nd quarter. Smith Salley & Associates now owns 1,210 shares of the asset manager’s stock worth $1,059,000 after acquiring an additional 12 shares in the last quarter. Proquility Private Wealth Partners LLC grew its stake in shares of BlackRock by 0.3% in the 2nd quarter. Proquility Private Wealth Partners LLC now owns 3,959 shares of the asset manager’s stock worth $3,464,000 after acquiring an additional 12 shares in the last quarter. Finally, Boltwood Capital Management grew its stake in shares of BlackRock by 2.0% in the 3rd quarter. Boltwood Capital Management now owns 626 shares of the asset manager’s stock worth $525,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 77.75% of the company’s stock.

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a research report on Thursday, October 14th. Jefferies Financial Group increased their price target on shares of BlackRock from $1,001.00 to $1,075.00 and gave the company a “buy” rating in a research report on Tuesday, August 31st. Morgan Stanley increased their price target on shares of BlackRock from $1,021.00 to $1,026.00 and gave the company an “overweight” rating in a research report on Thursday, October 14th. Citigroup increased their price target on shares of BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a research report on Thursday, October 14th. Finally, Evercore ISI restated a “buy” rating and set a $956.00 price target on shares of BlackRock in a research report on Thursday, October 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $961.40.

In other BlackRock news, CEO Laurence Fink sold 22,247 shares of BlackRock stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $925.68, for a total transaction of $20,593,602.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 405 shares of BlackRock stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $964.45, for a total transaction of $390,602.25. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

Shares of BlackRock stock traded down $4.71 on Thursday, reaching $930.72. The stock had a trading volume of 438,906 shares, compared to its average volume of 570,358. BlackRock, Inc. has a 1 year low of $670.28 and a 1 year high of $973.16. The company has a market cap of $141.39 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 2.14 and a beta of 1.19. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $901.59 and its two-hundred day moving average is $892.90.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 13th. The asset manager reported $10.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.81 by $1.14. BlackRock had a net margin of 30.97% and a return on equity of 16.72%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $9.22 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 38.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Stockholders of record on Tuesday, December 7th will be issued a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, December 6th. BlackRock’s payout ratio is 43.94%.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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