Callan Family Office LLC Sells 1,289 Shares of BlackRock (NYSE:BLK)

Key Points

• Callan Family Office LLC reduced its stake in BlackRock by 22.9%, selling 1,289 shares, leaving them with a total of 4,334 shares valued at approximately $4.1 million.
• BlackRock reported a 12.9% increase in quarterly revenue year-over-year, reaching $5.42 billion, and exceeded earnings estimates with $12.05 EPS against a consensus of $10.41.
• The recent quarterly dividend of $5.21 per share will be paid to stockholders on September 23rd, representing an annualized yield of 1.8%.

Callan Family Office LLC trimmed its holdings in BlackRock (NYSE:BLK - Free Report) by 22.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,334 shares of the asset manager's stock after selling 1,289 shares during the quarter. Callan Family Office LLC's holdings in BlackRock were worth $4,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Investment Management Corp VA ADV bought a new stake in BlackRock in the 4th quarter worth approximately $30,000. Fairway Wealth LLC increased its stake in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after acquiring an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in BlackRock in the 1st quarter worth approximately $31,000. Cheviot Value Management LLC bought a new stake in BlackRock in the 1st quarter worth approximately $30,000. Finally, CBIZ Investment Advisory Services LLC bought a new stake in BlackRock in the 1st quarter worth approximately $34,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Trading Up 0.1%

BLK traded up $1.55 during trading hours on Thursday, reaching $1,161.58. 407,611 shares of the company's stock traded hands, compared to its average volume of 767,336. The firm has a 50-day moving average price of $1,064.92 and a 200 day moving average price of $988.28. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $179.96 billion, a PE ratio of 28.08, a PEG ratio of 2.33 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. The company had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the business earned $10.36 EPS. BlackRock's revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.8%. BlackRock's payout ratio is 50.39%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BLK shares. Wall Street Zen raised BlackRock to a "hold" rating in a research note on Saturday, May 24th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Morgan Stanley reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Barclays lifted their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, UBS Group reiterated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,151.21.

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. The trade was a 48.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

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.