Rehmann Capital Advisory Group Sells 289 Shares of BlackRock (NYSE:BLK)

Rehmann Capital Advisory Group decreased its position in shares of BlackRock (NYSE:BLK - Free Report) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in BlackRock by 65.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 91 shares of the asset manager's stock worth $81,000 after acquiring an additional 36 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in BlackRock by 7.7% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 504 shares of the asset manager's stock worth $477,000 after acquiring an additional 36 shares during the last quarter. Greenleaf Trust boosted its stake in BlackRock by 9.9% during the 1st quarter. Greenleaf Trust now owns 7,644 shares of the asset manager's stock worth $7,235,000 after acquiring an additional 689 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in BlackRock by 1.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,477 shares of the asset manager's stock worth $3,290,000 after acquiring an additional 42 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its stake in BlackRock by 1.2% during the 1st quarter. Stratos Wealth Advisors LLC now owns 3,433 shares of the asset manager's stock worth $3,250,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

BLK has been the topic of several research analyst reports. Bank of America dropped their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a report on Tuesday. Wells Fargo & Company restated an "overweight" rating on shares of BlackRock in a report on Tuesday. Finally, TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,132.29.

BlackRock Stock Down 0.1%

BLK traded down $1.42 during trading on Friday, reaching $1,102.63. 545,380 shares of the stock were exchanged, compared to its average volume of 693,726. The stock has a market cap of $170.83 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,105.72. The stock's 50 day moving average price is $996.68 and its two-hundred day moving average price is $971.61. 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, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the company earned $9.81 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were given a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.89%. BlackRock's payout ratio is presently 50.63%.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the 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 owned 66,034 shares of the company's stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company's stock.

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.