BerganKDV Wealth Management LLC Reduces Position in BlackRock, Inc. (NYSE:BLK)

BerganKDV Wealth Management LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% in the second quarter, HoldingsChannel.com reports. The firm owned 2,397 shares of the asset manager’s stock after selling 19 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in BlackRock were worth $2,097,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BLK. Column Capital Advisors LLC lifted its stake in BlackRock by 24,840.7% in the first quarter. Column Capital Advisors LLC now owns 2,703,325 shares of the asset manager’s stock worth $2,703,000 after acquiring an additional 2,692,486 shares during the period. BlackRock Inc. lifted its stake in BlackRock by 1.5% in the first quarter. BlackRock Inc. now owns 9,846,763 shares of the asset manager’s stock worth $7,424,066,000 after acquiring an additional 147,821 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in BlackRock in the second quarter worth $82,772,000. M&G Investment Management Ltd. lifted its stake in BlackRock by 206.3% in the first quarter. M&G Investment Management Ltd. now owns 160,838 shares of the asset manager’s stock worth $121,272,000 after acquiring an additional 108,322 shares during the period. Finally, Toronto Dominion Bank lifted its stake in BlackRock by 98.8% in the second quarter. Toronto Dominion Bank now owns 192,225 shares of the asset manager’s stock worth $87,487,000 after acquiring an additional 95,552 shares during the period. 78.13% of the stock is owned by hedge funds and other institutional investors.

In other BlackRock news, Director Mark Wiedman sold 175 shares of the firm’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 2,106 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

Shares of BlackRock stock traded up $11.13 during trading on Wednesday, hitting $913.08. 7,324 shares of the company’s stock traded hands, compared to its average volume of 579,376. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. BlackRock, Inc. has a 1 year low of $531.39 and a 1 year high of $959.89. The stock has a market capitalization of $138.97 billion, a P/E ratio of 25.42, a PEG ratio of 2.40 and a beta of 1.15. The business has a 50-day simple moving average of $904.21 and a 200-day simple moving average of $847.00.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, beating the consensus estimate of $9.33 by $0.70. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the firm posted $7.85 earnings per share. BlackRock’s revenue was up 33.7% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 38.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th will be given a dividend of $4.13 per share. The ex-dividend date of this dividend is Friday, September 3rd. This represents a $16.52 annualized dividend and a dividend yield of 1.81%. BlackRock’s dividend payout ratio (DPR) is presently 48.85%.

A number of brokerages recently commented on BLK. Citigroup raised their price target on BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Jefferies Financial Group increased their price objective on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Evercore ISI reiterated a “buy” rating on shares of BlackRock in a report on Sunday, June 6th. Argus increased their price objective on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Finally, Credit Suisse Group decreased their price objective on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $953.31.

BlackRock Company Profile

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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