Capital Analysts LLC Sells 55 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Capital Analysts LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,161 shares of the asset manager’s stock after selling 55 shares during the quarter. Capital Analysts LLC’s holdings in BlackRock were worth $4,265,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BLK. Vanguard Group Inc. raised its holdings in shares of BlackRock by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after acquiring an additional 68,405 shares during the period. Capital World Investors raised its stake in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after purchasing an additional 93,844 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BlackRock by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after purchasing an additional 190,188 shares in the last quarter. FMR LLC boosted its position in shares of BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after buying an additional 26,485 shares during the period. Finally, Norges Bank bought a new position in shares of BlackRock during the fourth quarter worth about $2,356,357,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 12,430 shares of company stock worth $12,838,649. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company cut their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup decreased their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,077.08.

Read Our Latest Report on BlackRock

BlackRock Price Performance

NYSE:BLK opened at $908.28 on Friday. BlackRock, Inc. has a 12-month low of $748.78 and a 12-month high of $1,084.22. The firm has a market capitalization of $141.01 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.90 and a beta of 1.38. The stock’s 50 day moving average price is $922.02 and its two-hundred day moving average price is $983.49. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the prior year, the business earned $9.81 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.29%. BlackRock’s payout ratio is presently 50.63%.

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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