Financial Advocates Investment Management lowered its position in BlackRock, Inc. (NYSE:BLK – Get Rating ) by 34.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 789 shares of the asset manager’s stock after selling 423 shares during the period. Financial Advocates Investment Management’s holdings in BlackRock were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of BLK. State Street Corp boosted its holdings in BlackRock by 3.0% in the fourth quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock valued at $5,986,873,000 after acquiring an additional 192,641 shares during the period. Capital International Investors boosted its holdings in BlackRock by 2.2% in the fourth quarter. Capital International Investors now owns 3,288,052 shares of the asset manager’s stock valued at $3,010,396,000 after acquiring an additional 71,631 shares during the period. Geode Capital Management LLC boosted its holdings in BlackRock by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 2,300,304 shares of the asset manager’s stock valued at $2,099,650,000 after acquiring an additional 66,107 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of BlackRock by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,016,362 shares of the asset manager’s stock valued at $1,846,102,000 after purchasing an additional 68,493 shares during the period. Finally, Norges Bank acquired a new position in shares of BlackRock during the 4th quarter valued at approximately $1,230,851,000. Hedge funds and other institutional investors own 93.81% of the company’s shares.
Insider buying and selling at BlackRock
In other news, President Robert Capito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the completion of the transaction, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. In other news, CEO Lawrence Fink sold 44,500 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the transaction, the chief executive officer now directly owns 563,771 shares in the company, valued at approximately $385,963,264.31. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. Also, President Robert Capito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now owns 226,680 shares of the company’s stock, valued at $143,461,238.40. Disclosure of this sale can be found here. Insiders sold a total of 83,448 shares of company stock valued at $55,259,953 over the last three months. 1.06% of shares are owned by corporate insiders.
Changes in analyst ratings
Several brokerages have recently weighed in on BLK. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Goldman Sachs Group cut their target price on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Morgan Stanley reduced their target price on BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. UBS Group reduced their target price on BlackRock from $825.00 to $718.00 in a research note on Monday, July 11th. Finally, StockNews.com upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $804.46.
BlackRock shares fell 4.2%
Shares of NYSE:BLK opened at $713.85 on Monday. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $646.68 and a two hundred day moving average of $680.53. The stock has a market cap of $108.15 billion, a P/E ratio of 18.82, a PEG ratio of 3.74 and a beta of 1.25. BlackRock, Inc. it has a 52-week low of $575.60 and a 52-week high of $973.16.
BlackRock (NYSE:BLK – Get Rating ) last posted its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.94 by ($0.58). The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. In the same quarter last year, the company earned $10.03 earnings per share. On average, research analysts expect BlackRock, Inc. to post 33.92 earnings per share for the current year.
BlackRock announces dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be paid a $4.88 dividend. This represents a $19.52 annual dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, September 6th. BlackRock’s payout ratio is currently 51.46%.
BlackRock Company Profile
BlackRock, Inc. is a public investment manager. The firm provides its services primarily to institutional, intermediary and individual investors, including corporate, public, union and industrial pension plans, insurance companies, third party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations , official institutions and banks.
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