BlackRock (NYSE:BLK) Shares Sold by Leo Wealth LLC

Leo Wealth LLC trimmed its position in BlackRock (NYSE:BLK - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,773 shares of the asset manager's stock after selling 2,943 shares during the period. BlackRock accounts for approximately 1.3% of Leo Wealth LLC's investment portfolio, making the stock its 13th biggest holding. Leo Wealth LLC's holdings in BlackRock were worth $9,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in BlackRock in the 4th quarter valued at about $30,000. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in BlackRock in the 1st quarter worth approximately $31,000. Curio Wealth LLC purchased a new position in BlackRock in the 4th quarter worth approximately $41,000. Finally, Cedar Wealth Management LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at approximately $43,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company's stock.

BlackRock Stock Performance

BLK traded down $62.64 on Tuesday, reaching $1,048.82. The company had a trading volume of 1,935,444 shares, compared to its average volume of 697,873. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,133.55. The stock has a market capitalization of $162.49 billion, a PE ratio of 25.48, a P/E/G ratio of 2.24 and a beta of 1.41. 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 stock has a 50-day moving average price of $1,003.13 and a 200-day moving average price of $971.46.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $10.36 earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.99%. BlackRock's dividend payout ratio is currently 50.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLK. TD Cowen reduced their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. UBS Group restated a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Argus restated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group boosted their target price on shares of BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,132.29.

About BlackRock

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.