BlackRock, Inc. (NYSE:BLK) Holdings Decreased by Fortitude Family Office LLC

Fortitude Family Office LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 828 shares of the asset manager’s stock after selling 16 shares during the quarter. Fortitude Family Office LLC’s holdings in BlackRock were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. IAG Wealth Partners LLC acquired a new position in BlackRock during the 4th quarter valued at approximately $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock during the fourth quarter valued at $30,000. Compass Planning Associates Inc bought a new position in shares of BlackRock during the fourth quarter worth about $33,000. Synergy Investment Management LLC bought a new stake in BlackRock in the 4th quarter valued at about $40,000. Finally, Curio Wealth LLC bought a new position in BlackRock in the 4th quarter worth about $41,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BLK shares. JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Citigroup decreased their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” 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. Finally, Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research note 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 stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,082.46.

BlackRock Stock Up 0.1%

BLK stock opened at $993.30 on Thursday. The firm has a market cap of $153.89 billion, a PE ratio of 23.65, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12 month low of $758.20 and a 12 month high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a 50 day simple moving average of $931.30 and a 200 day simple moving average of $972.72.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $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. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio is currently 50.63%.

Insiders Place Their Bets

In other 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 completion of the sale, the director now owns 66,034 shares in the company, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

About BlackRock

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.