Exchange Bank Sells 10 Shares of BlackRock $BLK

by · The Cerbat Gem

Exchange Bank trimmed its position in shares of BlackRock (NYSE:BLK – Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 476 shares of the asset manager’s stock after selling 10 shares during the period. Exchange Bank’s holdings in BlackRock were worth $499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares in the last quarter. Bison Wealth LLC lifted its holdings in BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after buying an additional 17 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in BlackRock during the 4th quarter valued at about $216,000. Twinbeech Capital LP bought a new stake in BlackRock during the 4th quarter valued at about $27,304,000. Finally, Westwood Holdings Group Inc. bought a new stake in BlackRock during the 4th quarter valued at about $3,263,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.8%

Shares of NYSE:BLK opened at $1,114.15 on Tuesday. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The stock has a market cap of $172.53 billion, a price-to-earnings ratio of 26.94, a PEG 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. The business has a 50-day moving average price of $1,116.63 and a 200-day moving average price of $1,008.76.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.40 billion. During the same period last year, the business posted $10.36 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities 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. Stockholders of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 19,205 shares in the company, valued at $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Barclays increased their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Finally, Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

Get Our Latest Stock Report on BLK

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.

Recommended Stories