BlackRock (NYSE:BLK) Holdings Lowered by Generate Investment Management Ltd

Generate Investment Management Ltd trimmed its stake in shares of BlackRock (NYSE:BLK - Free Report) by 70.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,139 shares of the asset manager's stock after selling 12,064 shares during the period. Generate Investment Management Ltd's holdings in BlackRock were worth $4,864,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $26,000. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock during the fourth quarter valued at $30,000. Synergy Investment Management LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $40,000. Curio Wealth LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $41,000. Finally, Cedar Wealth Management LLC purchased a new stake in BlackRock in the 4th quarter worth about $43,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now owns 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BLK shares. Barclays increased their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. TD Cowen reduced their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group reduced their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

BlackRock Stock Performance

Shares of BLK stock opened at $1,004.50 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,084.22. The stock's 50-day moving average is $952.76 and its two-hundred day moving average is $969.25. The firm has a market cap of $155.62 billion, a P/E ratio of 24.40, a PEG ratio of 2.99 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.81 EPS. Analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, June 5th. BlackRock's dividend payout ratio is 50.63%.

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.

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