BlackRock (NYSE:BLK) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC reduced its stake in BlackRock by 45.5% to approximately $2.84 million, holding 2,996 shares as of the latest SEC disclosure.
• Directors at BlackRock have recently sold significant shares; Director Rachel Lord sold 18,036 shares valued at over $20 million, while Director J. Richard Kushel sold 17,142 shares for about $19 million.
• BlackRock's latest earnings report revealed an EPS of $12.05, exceeding estimates by $1.64, with revenues growing by 12.9% compared to the same quarter last year.

Keeler Thomas Management LLC lowered its stake in shares of BlackRock (NYSE:BLK - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,996 shares of the asset manager's stock after selling 2,505 shares during the quarter. BlackRock comprises approximately 1.4% of Keeler Thomas Management LLC's investment portfolio, making the stock its 21st largest holding. Keeler Thomas Management LLC's holdings in BlackRock were worth $2,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC increased its holdings in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 13 shares during the period. Investment Management Corp VA ADV purchased a new stake in BlackRock in the fourth quarter valued at $30,000. Cheviot Value Management LLC purchased a new position in shares of BlackRock during the 1st quarter valued at about $30,000. MorganRosel Wealth Management LLC acquired a new stake in BlackRock during the first quarter worth about $31,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in BlackRock in the first quarter valued at approximately $34,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of several analyst reports. Citigroup decreased 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. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on BlackRock from $1,018.00 to $1,093.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Argus restated a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,151.21.

BlackRock Price Performance

Shares of NYSE BLK traded up $11.37 during mid-day trading on Friday, reaching $1,124.20. The company's stock had a trading volume of 427,828 shares, compared to its average volume of 674,734. The stock has a 50-day moving average of $1,054.94 and a two-hundred day moving average of $985.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.34 and a current ratio of 4.04. The stock has a market capitalization of $174.17 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.24 and a beta of 1.42. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,131.93.

BlackRock (NYSE:BLK - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $10.36 EPS. BlackRock's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Insider Buying and Selling

In other news, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the transaction, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. The trade was a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock valued at $74,694,573 in the last quarter. Corporate insiders own 1.98% of the company's stock.

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.