BlackRock (NYSE:BLK) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC lessened its stake in BlackRock (NYSE:BLK - Free Report) by 32.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,126 shares of the asset manager's stock after selling 2,512 shares during the quarter. Kintegral Advisory LLC's holdings in BlackRock were worth $4,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLK. GAMMA Investing LLC increased its position in BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. Norges Bank acquired a new position in shares of BlackRock during the 4th quarter worth approximately $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of BlackRock by 401.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock valued at $1,122,743,000 after buying an additional 876,836 shares in the last quarter. Proficio Capital Partners LLC grew its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after buying an additional 633,779 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in BlackRock in the 4th quarter valued at $572,730,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. Wells Fargo & Company lifted their price target on BlackRock from $1,105.00 to $1,180.00 and gave the company an "overweight" rating in a research note on Thursday. The Goldman Sachs Group boosted their target price on BlackRock from $994.00 to $1,115.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. UBS Group reduced their price target on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barclays raised their target price on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Finally, Bank of America dropped their price target 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,110.92.

BlackRock Price Performance

Shares of BLK stock traded up $5.71 during trading hours on Friday, hitting $1,076.28. The stock had a trading volume of 342,684 shares, compared to its average volume of 694,677. The stock's 50-day moving average price is $979.68 and its two-hundred day moving average price is $969.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The stock has a market capitalization of $166.75 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 3.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $5.47 billion. During the same period in the previous year, the company earned $9.81 EPS. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

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 directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently 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.