Xponance Inc. Lowers Holdings in BlackRock (NYSE:BLK)

Xponance Inc. decreased its stake in shares of BlackRock (NYSE:BLK - Free Report) by 1.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,900 shares of the asset manager's stock after selling 298 shares during the period. Xponance Inc.'s holdings in BlackRock were worth $19,781,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLK. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter worth about $26,000. Fairway Wealth LLC lifted its holdings in BlackRock by 76.5% during 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. Investment Management Corp VA ADV purchased a new stake in BlackRock during the 4th quarter worth about $30,000. MorganRosel Wealth Management LLC purchased a new stake in BlackRock during the 1st quarter worth about $31,000. Finally, Curio Wealth LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on BLK shares. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a report on Tuesday. Barclays raised their price target on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup dropped their target price on 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. Finally, Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,132.29.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director owned 66,034 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by insiders.

BlackRock Trading Down 0.1%

Shares of BLK stock traded down $1.42 during trading hours on Friday, reaching $1,102.63. The company's stock had a trading volume of 545,380 shares, compared to its average volume of 693,726. The stock has a market capitalization of $170.83 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm's fifty day simple moving average is $993.20 and its 200 day simple moving average is $971.28. BlackRock has a one year low of $773.74 and a one year high of $1,106.39.

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

BlackRock Dividend Announcement

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

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.