Handelsbanken Fonder AB Has $50.13 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Handelsbanken Fonder AB reduced its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,961 shares of the asset manager's stock after selling 2,077 shares during the period. Handelsbanken Fonder AB's holdings in BlackRock were worth $50,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Ibex Wealth Advisors lifted its stake in shares of BlackRock by 4.3% in the 1st quarter. Ibex Wealth Advisors now owns 5,084 shares of the asset manager's stock worth $4,812,000 after acquiring an additional 208 shares during the period. Accurate Wealth Management LLC lifted its stake in BlackRock by 15.1% during the first quarter. Accurate Wealth Management LLC now owns 1,212 shares of the asset manager's stock valued at $1,064,000 after purchasing an additional 159 shares during the last quarter. GAMMA Investing LLC lifted its stake in BlackRock by 10.6% during the first quarter. GAMMA Investing LLC now owns 3,698 shares of the asset manager's stock valued at $3,500,000 after purchasing an additional 355 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in BlackRock during the first quarter valued at approximately $674,000. Finally, Yousif Capital Management LLC lifted its stake in BlackRock by 2.6% during the first quarter. Yousif Capital Management LLC now owns 19,723 shares of the asset manager's stock valued at $18,667,000 after purchasing an additional 509 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

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

Analyst Upgrades and Downgrades

Several analysts recently commented on BLK shares. Barclays increased their target price on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. cut their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup cut their target price on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Finally, UBS Group cut their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,082.46.

BlackRock Stock Up 0.1%

BLK stock traded up $1.40 during trading hours on Wednesday, hitting $993.30. The company's stock had a trading volume of 645,046 shares, compared to its average volume of 689,459. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $153.89 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12 month low of $758.20 and a 12 month high of $1,084.22. The stock has a 50 day moving average price of $927.88 and a two-hundred day moving average price of $972.57.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.81 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.