BlackRock $BLK Stock Holdings Decreased by Greenleaf Trust

Key Points

• Greenleaf Trust has reduced its holdings in BlackRock by 22.4%, owning 5,934 shares worth approximately $6.2 million after selling 1,710 shares in the second quarter.
• Several analysts have updated their ratings and price targets for BlackRock, with Bank of America increasing its price target to $1,224 and maintaining a "buy" rating, while Morgan Stanley set its target to $1,224 with an "overweight" rating.
• BlackRock reported earnings of $12.05 per share, exceeding analyst expectations, along with a revenue of $5.42 billion, marking a 12.9% increase year-over-year.

Greenleaf Trust decreased its position in BlackRock (NYSE:BLK - Free Report) by 22.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,934 shares of the asset manager's stock after selling 1,710 shares during the period. Greenleaf Trust's holdings in BlackRock were worth $6,226,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Securian Asset Management Inc. acquired a new position in shares of BlackRock in the 1st quarter valued at about $7,331,000. Prudent Man Advisors LLC acquired a new position in BlackRock in the 1st quarter worth about $2,018,000. Allianz SE raised its stake in shares of BlackRock by 2.6% during the 1st quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of BlackRock in the 1st quarter valued at approximately $40,868,000. Finally, Community Financial Services Group LLC increased its holdings in BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock worth $5,397,000 after buying an additional 836 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America boosted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley decreased their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Barclays upped their price target on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,171.93.

BlackRock Stock Up 1.5%

Shares of BLK opened at $1,173.98 on Tuesday. The company has a market capitalization of $181.79 billion, a P/E ratio of 28.38, a PEG ratio of 2.21 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,182.14. The business's 50 day simple moving average is $1,126.36 and its 200-day simple moving average is $1,023.07. 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 released its quarterly 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 firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $10.36 EPS. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction 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 sold 66,494 shares of company stock worth $74,694,573 in the last quarter. Insiders own 1.98% of the company's stock.

BlackRock Company 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.

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