BlackRock (NYSE:BLK) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 38.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,042 shares of the asset manager's stock after selling 655 shares during the period. BLB&B Advisors LLC's holdings in BlackRock were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BLK. Mascoma Wealth Management LLC grew its stake in shares of BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after acquiring an additional 11 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after purchasing an additional 11 shares in the last quarter. Truvestments Capital LLC raised its holdings in shares of BlackRock by 10.8% in the fourth quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after buying an additional 12 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of BlackRock by 3.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Price Performance

Shares of BLK stock traded up $3.89 during mid-day trading on Tuesday, hitting $1,053.14. 472,278 shares of the stock were exchanged, compared to its average volume of 693,200. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market cap of $163.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 3.18 and a beta of 1.41. The firm has a fifty day moving average of $966.29 and a 200 day moving average of $968.09.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. BlackRock's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.81 earnings per share. Research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, June 5th. BlackRock's payout ratio is presently 50.63%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BLK. Morgan Stanley cut their target price on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group raised their price objective on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Argus raised their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Citigroup dropped their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,102.08.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by 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.