Hartline Investment Corp Reduces Holdings in BlackRock (NYSE:BLK)

Hartline Investment Corp decreased its stake in BlackRock (NYSE:BLK - Free Report) by 70.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,536 shares of the asset manager's stock after selling 6,175 shares during the period. Hartline Investment Corp's holdings in BlackRock were worth $2,400,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. IAG Wealth Partners LLC purchased a new position in shares of BlackRock in the fourth quarter worth about $26,000. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock in the 4th quarter valued at $30,000. MorganRosel Wealth Management LLC purchased a new stake in shares of BlackRock in the 1st quarter valued at $31,000. Synergy Investment Management LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $40,000. Finally, Curio Wealth LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $41,000. Institutional investors own 80.69% of the company's stock.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of the business's 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 sale, the director owned 66,034 shares in the company, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a research note on Thursday. Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Morgan Stanley increased their price target on shares of BlackRock from $1,111.00 to $1,164.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Argus increased their price target on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,110.92.

BlackRock Stock Performance

Shares of NYSE BLK traded up $5.71 during trading on Friday, reaching $1,076.28. 342,684 shares of the company traded hands, compared to its average volume of 696,095. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $166.75 billion, a PE ratio of 26.15, a P/E/G ratio of 3.26 and a beta of 1.41. The firm has a 50 day simple moving average of $979.68 and a 200-day simple moving average of $969.29. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,084.22.

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, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter last year, the business earned $9.81 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

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

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.