Compagnie Lombard Odier SCmA Sells 6,384 Shares of BlackRock $BLK

Key Points

• Compagnie Lombard Odier SCmA reduced its stake in BlackRock by 17.5%, selling 6,384 shares to hold a total of 30,071 shares valued at $31.55 million.
• Several institutional investors significantly increased their positions in BlackRock, with GAMMA Investing LLC raising its holdings by 104,598.9%, now owning over 3.5 million shares worth approximately $3.31 billion.
• BlackRock announced a quarterly dividend of $5.21, with the ex-dividend date set for September 5th, representing an annualized yield of 1.8%.

Compagnie Lombard Odier SCmA lessened its stake in shares of BlackRock (NYSE:BLK - Free Report) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,071 shares of the asset manager's stock after selling 6,384 shares during the quarter. Compagnie Lombard Odier SCmA's holdings in BlackRock were worth $31,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLK. GAMMA Investing LLC raised its holdings in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after acquiring an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after acquiring an additional 279,336 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of BlackRock in the 4th quarter worth about $225,481,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of BlackRock 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 in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 in the last 90 days. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. UBS Group reiterated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and an average price target of $1,154.07.

BlackRock Stock Performance

NYSE BLK opened at $1,135.87 on Tuesday. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The company has a market capitalization of $175.89 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.19 and a beta of 1.45. The company has a fifty day moving average of $1,120.31 and a 200-day moving average of $1,014.87.

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, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm posted $10.36 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

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.

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