BlackRock, Inc. (NYSE:BLK) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lowered its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 2,727 shares of the asset manager’s stock after selling 72 shares during the quarter. Financial Counselors Inc.’s holdings in BlackRock were worth $2,274,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Capital Research Global Investors boosted its stake in shares of BlackRock by 23.7% during the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after acquiring an additional 749,654 shares during the last quarter. Capital World Investors boosted its stake in shares of BlackRock by 57.3% during the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after acquiring an additional 1,279,952 shares during the last quarter. Capital International Investors boosted its stake in shares of BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. Norges Bank acquired a new stake in BlackRock in the 4th quarter worth about $1,812,920,000. Finally, Fisher Asset Management LLC boosted its stake in BlackRock by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock worth $1,636,212,000 after buying an additional 47,326 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. UBS Group raised their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen cut their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley raised their price objective on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $846.75.

View Our Latest Research Report on BlackRock

BlackRock Price Performance

BLK stock opened at $802.12 on Wednesday. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The stock’s 50 day moving average is $783.46 and its two-hundred day moving average is $792.55. The company has a market capitalization of $119.20 billion, a PE ratio of 20.38, a P/E/G ratio of 1.63 and a beta of 1.32.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $7.93 EPS. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a dividend yield of 2.54%. BlackRock’s payout ratio is 51.84%.

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.

See Also

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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