BlackRock (NYSE:BLK) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC trimmed its position in shares of BlackRock (NYSE:BLK - Free Report) by 87.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,813 shares of the asset manager's stock after selling 34,716 shares during the quarter. Dearborn Partners LLC's holdings in BlackRock were worth $4,556,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc. bought a new position in BlackRock during the 1st quarter valued at about $7,331,000. Prudent Man Advisors LLC bought a new position in BlackRock during the 1st quarter valued at about $2,018,000. Arizona State Retirement System bought a new position in BlackRock during the 1st quarter valued at about $40,868,000. Polar Capital Holdings Plc bought a new position in BlackRock during the 4th quarter valued at about $15,307,000. Finally, Community Financial Services Group LLC lifted its stake in BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager's stock valued at $5,397,000 after acquiring an additional 836 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of BlackRock stock traded down $14.72 on Friday, hitting $1,091.29. 672,794 shares of the company traded hands, compared to its average volume of 784,464. The stock has a market capitalization of $169.07 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 2.25 and a beta of 1.41. 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 52 week low of $773.74 and a 52 week high of $1,130.66. The business has a 50-day simple moving average of $1,038.13 and a 200 day simple moving average of $980.77.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the business posted $10.36 earnings per share. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. Research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is currently 50.39%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered 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 research note on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Morgan Stanley lowered their price objective on shares of 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. Finally, Wall Street Zen upgraded shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the business's 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 sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares of the company's stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. Company insiders own 1.98% of the company's stock.

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.