Naples Global Advisors LLC Sells 21 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

Naples Global Advisors LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 0.3% during the first quarter, HoldingsChannel reports. The fund owned 7,962 shares of the asset manager’s stock after selling 21 shares during the quarter. Naples Global Advisors LLC’s holdings in BlackRock were worth $7,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BLK. Amalgamated Bank raised its position in shares of BlackRock by 1.7% during the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after buying an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after acquiring an additional 578 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BlackRock by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after acquiring an additional 4,210 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in shares of BlackRock in the 4th quarter worth approximately $15,307,000. Finally, Alberta Investment Management Corp grew its holdings in shares of BlackRock by 242.3% during the 4th quarter. Alberta Investment Management Corp now owns 21,905 shares of the asset manager’s stock worth $22,455,000 after purchasing an additional 15,505 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Price Performance

BlackRock stock opened at $988.88 on Thursday. The business’s fifty day moving average is $923.63 and its two-hundred day moving average is $974.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market cap of $153.20 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 52 week low of $752.30 and a 52 week high of $1,084.22.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.11%. BlackRock’s dividend payout ratio (DPR) is currently 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares in the company, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BLK. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a “hold” rating in a research note on Saturday, May 24th. TD Cowen dropped their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley dropped their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

Check Out Our Latest Report on BlackRock

BlackRock Company 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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