BlackRock $BLK Shares Sold by Sei Investments Co.

Key Points

• Sei Investments Co. reduced its stake in BlackRock by 0.5%, holding 46,865 shares worth $47.44 million after selling 246 shares in the first quarter.
• BlackRock's Director Rachel Lord and CEO Laurence Fink sold significant amounts of stock, with Lord selling 18,036 shares and Fink selling 14,828 shares, reflecting decreases of 48.43% and 5.32% in their respective holdings.
• The company reported $12.05 earnings per share for the last quarter, exceeding analysts' estimates, and announced a quarterly dividend of $5.21 to be paid on September 23rd.

Sei Investments Co. reduced its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,865 shares of the asset manager's stock after selling 246 shares during the quarter. Sei Investments Co.'s holdings in BlackRock were worth $47,440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Detalus Advisors LLC lifted its position in BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after acquiring an additional 11 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in BlackRock by 20.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock worth $62,000 after acquiring an additional 11 shares during the period. Jump Financial LLC lifted its position in BlackRock by 1.6% during the 4th quarter. Jump Financial LLC now owns 786 shares of the asset manager's stock worth $806,000 after acquiring an additional 12 shares during the period. Rothschild Investment LLC lifted its position in BlackRock by 2.1% during the 1st quarter. Rothschild Investment LLC now owns 579 shares of the asset manager's stock worth $548,000 after acquiring an additional 12 shares during the period. Finally, Financial Management Professionals Inc. lifted its position in BlackRock by 3.0% during the 1st quarter. Financial Management Professionals Inc. now owns 451 shares of the asset manager's stock worth $427,000 after acquiring an additional 13 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the completion of the transaction, the chief executive officer owned 263,751 shares of the company's stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

NYSE BLK traded down $10.1150 during mid-day trading on Tuesday, hitting $1,126.0050. The stock had a trading volume of 159,812 shares, compared to its average volume of 759,955. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The company has a market cap of $174.36 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 2.28 and a beta of 1.42. The company has a 50 day simple moving average of $1,074.33 and a 200 day simple moving average of $989.18. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly 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. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $10.36 earnings per share. Equities analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.9%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BLK. Bank of America increased their price objective on BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Wells Fargo & Company cut their target price on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

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.