BlackRock (NYSE:BLK) Holdings Reduced by Commerce Bank

Key Points

• Commerce Bank has reduced its holdings in BlackRock by 1.1%, owning 33,030 shares worth approximately $31.26 million as of the latest SEC filing.
• BlackRock's stock currently has a consensus rating of "Moderate Buy" with an average target price of $1,151.21, and its recent earnings report showed a significant beat on EPS estimates.
• The company declared a quarterly dividend of $5.21 per share, representing a 1.9% dividend yield, with a payout ratio of 50.39%.

Commerce Bank lessened its holdings in BlackRock (NYSE:BLK - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,030 shares of the asset manager's stock after selling 382 shares during the period. Commerce Bank's holdings in BlackRock were worth $31,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of 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 buying an additional 11 shares during the period. Detalus Advisors LLC boosted 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 purchasing an additional 11 shares during the period. Blue Bell Private Wealth Management LLC boosted 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 purchasing an additional 11 shares during the period. Jump Financial LLC boosted 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 purchasing an additional 12 shares during the period. Finally, Rothschild Investment LLC boosted 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 purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 12,054 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares of the company's stock, valued at $283,267,354.71. This represents a 4.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 1.3%

Shares of BlackRock stock traded down $14.72 during trading on Friday, reaching $1,091.29. The company had a trading volume of 672,794 shares, compared to its average volume of 679,700. The company has a market cap of $169.07 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.42. The firm's fifty day moving average is $1,040.67 and its 200-day moving average is $981.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,130.66.

BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results 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 net margin of 29.68% and a return on equity of 15.83%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $10.36 EPS. The company's revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is currently 50.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLK. UBS Group reaffirmed a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America upped their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Argus reiterated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock 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.