BlackRock (NYSE:BLK) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group decreased its position in BlackRock (NYSE:BLK - Free Report) by 15.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,545 shares of the asset manager's stock after selling 289 shares during the quarter. Rehmann Capital Advisory Group's holdings in BlackRock were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new position in shares of BlackRock during the 4th quarter valued at about $26,000. Investment Management Corp VA ADV purchased a new stake in BlackRock in the fourth quarter valued at approximately $30,000. Fairway Wealth LLC increased its position in BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in BlackRock during the first quarter worth approximately $31,000. Finally, Curio Wealth LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $41,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director directly owned 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company's stock.

BlackRock Stock Up 1.1%

NYSE BLK opened at $1,087.11 on Thursday. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,089.50. The stock has a market cap of $168.43 billion, a PE ratio of 26.41, a PEG ratio of 3.20 and a beta of 1.41. The firm has a 50-day simple moving average of $989.46 and a 200 day simple moving average of $970.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 EPS. On average, research analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.92%. BlackRock's dividend payout ratio is 50.63%.

Analysts Set New Price Targets

Several research analysts recently commented on BLK shares. JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reissued an "overweight" rating on shares of BlackRock in a research note on Tuesday. Citigroup decreased their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America lowered their price target on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen reduced their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,108.62.

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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