KBC Group NV Lowers Stock Holdings in BlackRock (NYSE:BLK)

KBC Group NV reduced its position in BlackRock (NYSE:BLK - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,198 shares of the asset manager's stock after selling 921 shares during the quarter. KBC Group NV's holdings in BlackRock were worth $12,492,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC boosted its stake in BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after buying an additional 11 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of BlackRock by 2.1% during 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 during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in BlackRock by 4.5% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after purchasing an additional 11 shares during the period. Truvestments Capital LLC increased its stake in BlackRock by 10.8% during the 4th quarter. Truvestments Capital LLC now owns 123 shares of the asset manager's stock worth $126,000 after buying an additional 12 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its holdings in BlackRock by 3.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after buying an additional 12 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of BlackRock from $1,105.00 to $1,180.00 and gave the stock an "overweight" rating in a research note on Thursday. Barclays boosted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. The Goldman Sachs Group increased their price target on BlackRock from $994.00 to $1,115.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Citigroup lowered their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Bank of America cut their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has an average rating of "Moderate Buy" and an average target price of $1,110.92.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 transaction, the director owned 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Up 0.5%

BLK stock traded up $5.71 during midday trading on Friday, reaching $1,076.28. 342,684 shares of the company were exchanged, compared to its average volume of 694,677. The company has a market cap of $166.74 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,084.22. The stock's 50-day simple moving average is $976.32 and its 200 day simple moving average is $969.46.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 30.09% and a return on equity of 15.57%. BlackRock's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $9.81 earnings per share. On average, equities analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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