BIP Wealth LLC Makes New $736,000 Investment in BlackRock $BLK

BIP Wealth LLC bought a new position in BlackRock (NYSE:BLK – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 765 shares of the asset manager’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. RMG Wealth Management LLC acquired a new position in BlackRock in the first quarter worth $25,000. Evolution Wealth Management Inc. acquired a new position in BlackRock during the 4th quarter worth about $26,000. Birchbrook Inc. acquired a new stake in BlackRock in the 4th quarter valued at about $31,000. LFA Lugano Financial Advisors SA acquired a new stake in BlackRock in the 4th quarter valued at about $32,000. Finally, Basepoint Wealth LLC bought a new position in shares of BlackRock in the fourth quarter worth about $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on BLK. Zacks Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Evercore reiterated an “outperform” rating and issued a $1,260.00 price objective on shares of BlackRock in a research report on Monday. BMO Capital Markets boosted their price objective on BlackRock from $1,250.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. BNP Paribas Exane boosted their price target on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised shares of BlackRock from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Buy” and an average target price of $1,311.06.

Shares of BLK stock opened at $1,172.20 on Friday. The firm has a fifty day moving average of $1,053.84 and a 200-day moving average of $1,043.07. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,219.94. The company has a market capitalization of $181.54 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 1.33 and a beta of 1.42.

BlackRock last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 EPS for the quarter, beating the consensus estimate of $12.69 by $1.22. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the previous year, the firm posted $12.05 EPS. The firm's revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 55.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a dividend of $5.73 per share. The ex-dividend date is Tuesday, Sept...