E. Ohman J or Asset Management AB Sells 4,172 Shares of BlackRock $BLK

Key Points

• E. Ohman J or Asset Management AB reduced its stake in BlackRock by 9.5%, now holding 39,727 shares worth approximately $41.68 million, making it the firm's 20th largest holding.
• BlackRock's CEO, Laurence Fink, sold 12,054 shares of the company's stock, decreasing his ownership by 4.57%, while the company announced a quarterly dividend of $5.21 per share.
• The firm's latest earnings report showed an EPS of $12.05, exceeding expectations, with a revenue increase of 12.9% year-over-year and a current P/E ratio of 27.18.

E. Ohman J or Asset Management AB trimmed its holdings in BlackRock (NYSE:BLK - Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,727 shares of the asset manager's stock after selling 4,172 shares during the quarter. BlackRock comprises about 1.0% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 20th biggest holding. E. Ohman J or Asset Management AB's holdings in BlackRock were worth $41,684,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock valued at $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager's stock valued at $1,078,000 after acquiring an additional 17 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of BlackRock during the 4th quarter valued at about $216,000. Toronto Dominion Bank boosted its holdings in shares of BlackRock by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 51,192 shares of the asset manager's stock valued at $52,475,000 after acquiring an additional 577 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. boosted its holdings in shares of BlackRock by 43.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 5,297 shares of the asset manager's stock valued at $5,192,000 after acquiring an additional 1,598 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity at BlackRock

In other news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction that occurred on 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 sale, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

NYSE BLK opened at $1,124.34 on Monday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The stock has a market cap of $174.10 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.15 and a beta of 1.45. The company's 50 day moving average is $1,115.88 and its two-hundred day moving average is $1,007.82. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Tuesday, July 15th. The asset manager reported $12.05 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 for the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter last year, the business earned $10.36 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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 paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company dropped 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 report on Wednesday, July 16th. Argus reissued a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Bank of America raised their price objective on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,154.07.

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.

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