SteelPeak Wealth LLC Sells 316 Shares of BlackRock $BLK

SteelPeak Wealth LLC lowered its stake in BlackRock (NYSE:BLK) by 34.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 594 shares of the asset manager’s stock after selling 316 shares during the quarter. SteelPeak Wealth LLC’s holdings in BlackRock were worth $623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. Unisphere Establishment raised its holdings in shares of BlackRock by 29.2% during the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after acquiring an additional 189,500 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of BlackRock by 58.8% during the first quarter. Alliancebernstein L.P. now owns 381,447 shares of the asset manager’s stock valued at $361,032,000 after acquiring an additional 141,258 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,163.72 on Thursday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,184.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The business has a fifty day moving average price of $1,132.82 and a 200-day moving average price of $1,032.16. The company has a market capitalization of $180.21 billion, a PE ratio of 28.14, a PEG ratio of 2.20 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating 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 the consensus estimate of $5.40 billion. During the same period last year, the company earned $10.36 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a dividend of $5.21 per share. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Insider Buying and Selling

In other news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares in the company, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 over the last ninety days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLK. Wells Fargo & Company decreased their target price on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Morgan Stanley upped their target price on BlackRock from $1,224.00 to $1,362.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a report on Wednesday. UBS Group reiterated a “neutral” rating and issued a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, Zacks Research downgraded BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,254.47.

BlackRock Profile

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.