Sava Infond d.o.o. Lowers Position in BlackRock (NYSE:BLK)

Sava Infond d.o.o. lowered its position in shares of BlackRock (NYSE:BLK - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,657 shares of the asset manager's stock after selling 415 shares during the quarter. BlackRock makes up approximately 1.4% of Sava Infond d.o.o.'s holdings, making the stock its 16th biggest holding. Sava Infond d.o.o.'s holdings in BlackRock were worth $7,247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares during the period. First Horizon Advisors Inc. increased its stake in BlackRock by 0.7% in the 4th quarter. First Horizon Advisors Inc. now owns 2,679 shares of the asset manager's stock valued at $2,747,000 after buying an additional 19 shares during the last quarter. Fisher Funds Management LTD bought a new stake in BlackRock during the fourth quarter worth about $5,082,000. Howard Capital Management Inc. bought a new position in shares of BlackRock in the fourth quarter valued at $977,000. Finally, Forvis Mazars Wealth Advisors LLC acquired a new position in BlackRock during the fourth quarter worth approximately $504,000. Institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLK. 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 report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Bank of America dropped their price target on shares of 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, Wall Street Zen upgraded BlackRock to a "hold" rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,096.31.

BlackRock Stock Up 1.8%

Shares of BLK traded up $18.20 during trading hours on Tuesday, reaching $1,004.50. The stock had a trading volume of 698,641 shares, compared to its average volume of 691,415. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,084.22. The company has a market capitalization of $155.63 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.96 and a beta of 1.41. The firm has a 50-day simple moving average of $950.45 and a 200 day simple moving average of $969.00. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

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, topping the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts predict that BlackRock will post 47.41 earnings per share 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 2.07%. BlackRock's dividend payout ratio (DPR) is 50.63%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction dated 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 now directly owns 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

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.