BlackRock (NYSE:BLK) Shares Sold by Hartline Investment Corp

Hartline Investment Corp lowered its position in BlackRock (NYSE:BLK - Free Report) by 70.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Mascoma Wealth Management LLC boosted its position in BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after purchasing an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after purchasing an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock worth $263,000 after purchasing an additional 11 shares in the last quarter. Detalus Advisors LLC boosted its position in BlackRock by 2.8% in the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock worth $387,000 after purchasing an additional 11 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in BlackRock by 10.8% in the 4th quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Wells Fargo & Company increased their target price on BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America cut their target price on BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. TD Cowen lowered their target price on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,110.92.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.5%

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

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

BlackRock Announces Dividend

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