BlackRock $BLK Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its holdings in shares of BlackRock (NYSE:BLK) by 67.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,700 shares of the asset manager’s stock after selling 15,600 shares during the quarter. 1832 Asset Management L.P.’s holdings in BlackRock were worth $7,288,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BLK. Investment Management Corp VA ADV purchased a new position in BlackRock during the fourth quarter valued at $30,000. Fairway Wealth LLC increased its stake in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock during the 1st quarter worth about $31,000. Cheviot Value Management LLC purchased a new position in BlackRock in the 1st quarter valued at about $30,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in BlackRock in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock valued at $74,694,573 over the last three months. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on BLK shares. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Barclays increased their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.21.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,147.8720 on Monday. The business’s 50 day moving average price is $1,086.01 and its 200 day moving average price is $992.51. The company has a market cap of $177.75 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.20 and a beta of 1.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,171.89.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $10.36 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s payout ratio is 50.39%.

BlackRock Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.