Capital Asset Advisory Services LLC Has $466,000 Stock Holdings in BlackRock $BLK

Capital Asset Advisory Services LLC reduced its position in shares of BlackRock (NYSE:BLK) by 21.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 442 shares of the asset manager’s stock after selling 119 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in BlackRock were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McLean Asset Management Corp increased its holdings in BlackRock by 3.9% during the 2nd quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after purchasing an additional 10 shares in the last quarter. Detalus Advisors LLC increased its holdings in BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock worth $387,000 after purchasing an additional 11 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in BlackRock by 20.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock worth $62,000 after purchasing an additional 11 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of BlackRock by 2.1% in the first quarter. Rothschild Investment LLC now owns 579 shares of the asset manager’s stock valued at $548,000 after acquiring an additional 12 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of BlackRock by 3.0% in the first quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 13 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

NYSE BLK opened at $1,124.34 on Monday. The company has a market cap of $174.10 billion, a PE ratio of 27.18, a P/E/G ratio of 2.15 and a beta of 1.45. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The firm’s 50 day moving average price is $1,115.88 and its 200-day moving average price is $1,007.82.

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

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is presently 50.39%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director directly owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BLK. Morgan Stanley reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. UBS Group restated a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Evercore ISI lifted their price objective on BlackRock from $1,170.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, Wells Fargo & Company cut their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,154.07.

About BlackRock

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.