EagleClaw Capital Managment LLC Sells 40 Shares of BlackRock (NYSE:BLK)

by · The Markets Daily

EagleClaw Capital Managment LLC lowered its holdings in BlackRock (NYSE:BLK – Free Report) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400 shares of the asset manager’s stock after selling 40 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in BlackRock were worth $379,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock worth $263,000 after buying an additional 11 shares in the last quarter. Detalus Advisors LLC boosted its stake in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager’s stock valued at $387,000 after buying an additional 11 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its position in BlackRock by 20.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 11 shares during the period. Jump Financial LLC raised its stake in BlackRock by 1.6% during the fourth quarter. Jump Financial LLC now owns 786 shares of the asset manager’s stock worth $806,000 after acquiring an additional 12 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of BlackRock by 2.1% during 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 during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,105.15 on Friday. The firm has a fifty day moving average of $1,038.13 and a two-hundred day moving average of $980.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. The stock has a market capitalization of $171.22 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 2.25 and a beta of 1.41. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,130.66.

BlackRock (NYSE:BLK – Get Free Report) last announced 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. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.36 earnings per share. As a group, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

Insider Activity at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were 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 approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,352 shares of company stock worth $55,486,962 in the last ninety days. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. UBS Group restated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Barclays upped their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Argus reissued a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,151.21.

Read Our Latest Report on BLK

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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