BlackRock $BLK Shares Sold by Junto Capital Management LP

Key Points

• Junto Capital Management LP reduced its stake in BlackRock by 0.7% in Q1, now holding 58,150 shares valued at approximately $55.04 million.
• BlackRock reported a quarterly EPS of $12.05, exceeding analyst expectations, with revenue of $5.42 billion, up 12.9% from the previous year.
• The firm declared a quarterly dividend of $5.21 per share, expected to be paid on September 23rd, with an annualized yield of 1.8%.

Junto Capital Management LP lowered its position in BlackRock (NYSE:BLK - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,150 shares of the asset manager's stock after selling 433 shares during the period. BlackRock comprises approximately 1.2% of Junto Capital Management LP's investment portfolio, making the stock its 25th biggest position. Junto Capital Management LP's holdings in BlackRock were worth $55,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Securian Asset Management Inc. purchased a new stake in shares of BlackRock during the first quarter worth about $7,331,000. Prudent Man Advisors LLC purchased a new stake in shares of BlackRock during the first quarter worth about $2,018,000. Allianz SE increased its stake in shares of BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager's stock worth $10,435,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of BlackRock during the first quarter worth about $40,868,000. Finally, Polar Capital Holdings Plc purchased a new stake in shares of BlackRock during the fourth quarter worth about $15,307,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

BlackRock Stock Down 1.4%

Shares of NYSE:BLK traded down $16.08 during trading hours on Wednesday, reaching $1,098.69. The stock had a trading volume of 412,112 shares, compared to its average volume of 742,463. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The firm's 50 day moving average is $1,106.83 and its 200-day moving average is $999.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $170.13 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 2.16 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts' consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm posted $10.36 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock's payout ratio is presently 50.39%.

Analyst Ratings Changes

Several research firms have weighed in on BLK. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company decreased their target price on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Finally, Argus restated a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction dated Friday, July 25th. The shares were 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 owned 251,697 shares in the company, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company's stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last three months. 1.98% of the stock is owned by company insiders.

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.