Wealth Alliance Advisory Group LLC Acquires Shares of BlackRock, Inc.

Wealth Alliance Advisory Group LLC recently made a strategic investment in BlackRock, Inc. (NYSE:BLK) during the third quarter, as disclosed in its latest filing with the Securities and Exchange Commission. The company bought 664 shares of this prominent asset manager, with a total investment value of around $630,000.

Other Institutional Investments

Wealth Alliance Advisory Group's acquisition adds to a growing trend among institutional investors modifying their positions in BlackRock. For instance, Redmont Wealth Advisors LLC initiated a new stake in the company during the first quarter, valued at $27,000. Similarly, Fairscale Capital LLC bought shares in the second quarter, worth approximately $31,000. Other firms, like Chilton Capital Management LLC and Olistico Wealth LLC, have also taken new positions in BlackRock, adding values of about $38,000 and $53,000, respectively. Notably, ORG Partners LLC recently increased its holdings in BlackRock by a substantial 257.9%, ending the second quarter with 68 shares valued around $54,000. Currently, institutional investors hold approximately 80.69% of BlackRock's stock.

Insider Transactions

In addition to institutional trading, notable insider transactions have occurred at BlackRock. CEO Laurence Fink sold 29,450 shares on August 6, valued at $24,833,712.50, at an average price of $843.25 per share. After this sale, Fink retained ownership of 353,718 shares, which are now worth about $298,272,703.50. It is important to highlight that this sale led to a negligible decrease in his ownership percentage.

Another insider, Director Mark Wiedman, also sold shares recently. On August 30, he sold 12,000 shares at an average price of $900.00, totaling $10,800,000.00. Following this transaction, Wiedman holds about 6,480 shares valued at approximately $5,832,000. Collectively, insiders sold 66,042 shares worth $56,857,777 over the past three months, with corporate insiders owning around 0.90% of the company.

BlackRock's Stock Performance

BlackRock's stock has shown positive movement recently, trading up 0.5% to open at $1,007.02. The company’s fifty-day moving average stands at $915.45, while the 200-day moving average is $837.50. With a market capitalization of $149.64 billion, the firm has a P/E ratio of 25.59 and a P/E/G ratio of 1.94. The company's performance over the last year reflects a low of $596.18 and a high of $1,032.00.

Recent Earnings and Dividend Announcement

On October 11, BlackRock released its earnings report, reporting earnings per share (EPS) of $11.46, which exceeded analysts' expectations of $10.42 by $1.04. The firm reported a return on equity of 15.44% with a net margin of 32.36%. Revenues for the quarter totaled $5.20 billion, surpassing the consensus estimate of $5.03 billion, highlighting a 14.9% increase compared to the previous year.

The company also declared a quarterly dividend, which was processed on September 23. Shareholders on record as of September 9 received a dividend of $5.10, translating to an annualized dividend rate of $20.40 and a yield of 2.03%. The dividend payout ratio currently stands at 51.84%.

Market Analysts' Perspectives

Several research firms have updated their outlooks on BlackRock. Wells Fargo & Company increased its target price from $1,000.00 to $1,070.00, rating the stock as “overweight.” Meanwhile, Keefe, Bruyette & Woods adjusted their price target to $934.00, giving it an “outperform” rating. On the other hand, JPMorgan Chase raised its target from $774.00 to $864.00, rating it as “neutral.” Furthermore, Morgan Stanley lifted its target forecast to $1,245.00, also assigning an “overweight” rating. Overall, the market shows a blend of hold and buy ratings, with three analysts advocating for a hold, and eleven endorsing a buy. The stock holds a “Moderate Buy” average rating and an average target price of $991.46.

Company Profile of BlackRock

BlackRock, Inc. operates as a publicly traded investment manager. The company primarily serves a range of clients, including institutional investors such as pension plans, insurance companies, and government entities, as well as individual investors.

investment, shares, BlackRock