Fiduciary Management Inc. WI Decreases Stock Holdings in BlackRock $BLK

Key Points

• Fiduciary Management Inc. reduced its stake in BlackRock by 37.0%, owning 87,891 shares valued at approximately $83.2 million after selling 51,597 shares.
• BlackRock reported a strong quarterly performance with $12.05 earnings per share, surpassing estimates and reflecting a 12.9% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $5.21, with a yield of 1.9% and a dividend payout ratio of 50.39%.

Fiduciary Management Inc. WI trimmed its position in BlackRock (NYSE:BLK - Free Report) by 37.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,891 shares of the asset manager's stock after selling 51,597 shares during the quarter. Fiduciary Management Inc. WI owned 0.06% of BlackRock worth $83,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BLK. GAMMA Investing LLC increased its stake in BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Vanguard Group Inc. boosted its position in BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock valued at $13,027,419,000 after buying an additional 387,466 shares in the last quarter. Ameriprise Financial Inc. boosted its position in BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after buying an additional 329,244 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock valued at $1,071,339,000 after buying an additional 279,336 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Down 0.9%

BLK stock traded down $10.5460 during midday trading on Monday, hitting $1,137.6240. The stock had a trading volume of 415,036 shares, compared to its average volume of 754,451. The firm has a market cap of $176.16 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 2.20 and a beta of 1.42. 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 has a 1-year low of $773.74 and a 1-year high of $1,171.89. The business has a fifty day moving average price of $1,086.01 and a two-hundred day moving average price of $992.51.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm 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 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict 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 will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio (DPR) is 50.39%.

Insider Activity

In other news, Director Fabrizio Freda sold 4,434 shares of the 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 completion of the transaction, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 12,054 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. Corporate insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised their target price on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Barclays lifted their price target 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. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,151.21.

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.