BlackRock $BLK Shares Sold by Mill Creek Capital Advisors LLC

by · The Cerbat Gem

Mill Creek Capital Advisors LLC trimmed its holdings in BlackRock (NYSE:BLK – Free Report) by 27.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 440 shares of the asset manager’s stock after selling 163 shares during the period. Mill Creek Capital Advisors LLC’s holdings in BlackRock were worth $416,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after purchasing an additional 387,466 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after buying an additional 3,496,740 shares during the period. Ameriprise Financial Inc. lifted its position in BlackRock by 18.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager’s stock worth $2,152,907,000 after acquiring an additional 329,244 shares in the last quarter. Northern Trust Corp lifted its position in BlackRock by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager’s stock worth $1,631,684,000 after acquiring an additional 272,176 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock worth $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on BLK shares. UBS Group reissued a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America boosted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Wells Fargo & Company reduced their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 16th. Barclays boosted their price target on BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,151.21.

View Our Latest Stock Report on BLK

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,135.88 on Monday. The company has a market capitalization of $175.89 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The business has a 50 day simple moving average of $1,071.38 and a 200-day simple moving average of $988.76. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,171.89.

BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business earned $10.36 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed 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 1.8%. BlackRock’s dividend payout ratio is 50.39%.

About BlackRock

(Free Report)

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.

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