Envestnet Asset Management Inc. Sells 27,891 Shares of BlackRock (NYSE:BLK)

Envestnet Asset Management Inc. cut its position in shares of BlackRock (NYSE:BLK - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,815 shares of the asset manager's stock after selling 27,891 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of BlackRock worth $502,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the fourth quarter valued at $26,000. Investment Management Corp VA ADV acquired a new position in shares of BlackRock in the 4th quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at $31,000. Curio Wealth LLC bought a new position in shares of BlackRock during the 4th quarter worth about $41,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at about $43,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of BLK traded down $5.60 during mid-day trading on Monday, hitting $1,076.55. 559,629 shares of the company traded hands, compared to its average volume of 695,549. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $166.79 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 3.26 and a beta of 1.41. The business has a 50-day moving average of $979.68 and a 200 day moving average of $968.96. BlackRock has a one year low of $773.74 and a one year high of $1,086.92.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 15.57% and a net margin of 30.09%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same period last year, the firm earned $9.81 EPS. The business's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th were issued a dividend of $5.21 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 1.94%. BlackRock's dividend payout ratio is currently 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director owned 66,034 shares in the company, valued at $60,256,025. The trade was a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on BLK. UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company raised their target price on BlackRock from $1,105.00 to $1,180.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays increased their price objective on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Finally, Bank of America reduced their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and an average target price of $1,110.92.

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.