BlackRock $BLK Stock Position Cut by Eschler Asset Management LLP

Key Points

• Eschler Asset Management LLP reduced its stake in BlackRock by 35%, owning 1,433 shares worth approximately $1.36 million after selling 771 shares in the first quarter.
• Several hedge funds have recently altered their positions in BlackRock, including AllianceBernstein, which increased its stake by 58.8%, now holding 381,447 shares valued at around $361 million.
• BlackRock announced a quarterly dividend of $5.21, with a scheduled pay date of September 23rd, representing an annualized dividend yield of 1.9%.

Eschler Asset Management LLP lowered its position in shares of BlackRock (NYSE:BLK - Free Report) by 35.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,433 shares of the asset manager's stock after selling 771 shares during the quarter. BlackRock comprises approximately 3.4% of Eschler Asset Management LLP's portfolio, making the stock its 9th biggest position. Eschler Asset Management LLP's holdings in BlackRock were worth $1,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BLK. Fairway Wealth LLC lifted its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after buying an additional 13 shares during the period. Investment Management Corp VA ADV purchased a new position in BlackRock in the 4th quarter worth about $30,000. Cheviot Value Management LLC purchased a new position in BlackRock in the 1st quarter worth about $30,000. MorganRosel Wealth Management LLC purchased a new position in BlackRock in the 1st quarter worth about $31,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in BlackRock in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 17,142 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 61,369 shares of the company's stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of BlackRock 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 completion of the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by insiders.

BlackRock Trading Up 0.5%

Shares of NYSE:BLK traded up $5.06 on Monday, hitting $1,104.21. 555,719 shares of the company's stock were exchanged, compared to its average volume of 738,211. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The stock has a market capitalization of $170.99 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.10 and a beta of 1.45. The business's 50 day simple moving average is $1,110.95 and its two-hundred day simple moving average is $1,002.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $10.36 earnings per share. Analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.9%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLK. Evercore ISI boosted their target price on BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Friday. Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. 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. Bank of America boosted their price target on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,154.07.

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.