Assetmark Inc. reduced its stake in BlackRock (NYSE:BLK - Free Report) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,553 shares of the asset manager's stock after selling 3,405 shares during the period. Assetmark Inc.'s holdings in BlackRock were worth $15,668,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BlackRock by 401.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after purchasing an additional 876,836 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of BlackRock during the fourth quarter valued at $572,730,000. Ameriprise Financial Inc. increased its position in BlackRock by 18.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after acquiring an additional 329,244 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of BlackRock by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock valued at $1,631,684,000 after purchasing an additional 272,176 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.
BlackRock Trading Down 0.2%
BLK traded down $2.00 during trading hours on Wednesday, reaching $1,119.54. 56,592 shares of the company's stock traded hands, compared to its average volume of 784,984. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $1,032.58 and a 200 day moving average price of $978.79. The firm has a market capitalization of $173.45 billion, a PE ratio of 27.06, a PEG ratio of 2.26 and a beta of 1.41. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,130.66.
BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. BlackRock's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $10.36 EPS. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's payout ratio is 50.39%.
Analysts Set New Price Targets
BLK has been the subject of a number of recent research reports. Barclays boosted their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group upped their price target on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. UBS Group restated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.
Check Out Our Latest Analysis on BlackRock
Insider Transactions at BlackRock
In related news, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director directly owned 19,205 shares in the company, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,352 shares of company stock valued at $55,486,962. Corporate insiders own 1.98% of the company's stock.
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.
Further Reading

Before you consider BlackRock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock wasn't on the list.
While BlackRock currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report