Dover Advisors LLC Sells 14 Shares of BlackRock $BLK

by · The Cerbat Gem

Dover Advisors LLC lowered its stake in shares of BlackRock (NYSE:BLK – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,199 shares of the asset manager’s stock after selling 14 shares during the quarter. Dover Advisors LLC’s holdings in BlackRock were worth $1,258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC boosted its position in 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 during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after buying an additional 15 shares in the last quarter. Garde Capital Inc. lifted its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after buying an additional 18 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock in the fourth quarter worth about $30,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of BlackRock in the first quarter worth about $30,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated 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 sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction dated 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 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. Over the last 90 days, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLK. Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Barclays lifted their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Wells Fargo & Company dropped their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. 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 research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a research report on Saturday, May 24th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

Read Our Latest Analysis on BlackRock

BlackRock Stock Performance

NYSE:BLK opened at $1,124.34 on Monday. The firm’s fifty day simple moving average is $1,115.88 and its 200 day simple moving average is $1,007.82. The stock has a market cap of $174.10 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. The company has a quick ratio of 4.04, a current 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 released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.36 EPS. As a group, research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio is 50.39%.

BlackRock Profile

(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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