Lansforsakringar Fondforvaltning AB publ Trims Stake in BlackRock $BLK

Key Points

• Lansforsakringar Fondforvaltning AB has reduced its stake in BlackRock by 7%, holding 57,233 shares worth approximately $54.17 million after selling 4,298 shares in the first quarter.
• BlackRock reported a Q2 EPS of $12.05, exceeding estimates of $10.41, with revenue of $5.42 billion, reflecting a year-over-year growth of 12.9%.
• The company will pay a quarterly dividend of $5.21 on September 23, representing an annual dividend yield of 1.8% and a payout ratio of 50.39%.

Lansforsakringar Fondforvaltning AB publ lowered its position in BlackRock (NYSE:BLK - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,233 shares of the asset manager's stock after selling 4,298 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in BlackRock were worth $54,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Okabena Investment Services Inc. boosted its stake in shares of BlackRock by 2.8% during the first quarter. Okabena Investment Services Inc. now owns 1,592 shares of the asset manager's stock valued at $1,507,000 after purchasing an additional 44 shares during the period. Opus Investment Management Inc. purchased a new stake in shares of BlackRock during the first quarter valued at $1,420,000. Truvestments Capital LLC boosted its stake in shares of BlackRock by 2,466.7% during the first quarter. Truvestments Capital LLC now owns 3,157 shares of the asset manager's stock valued at $2,988,000 after purchasing an additional 3,034 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of BlackRock during the first quarter valued at $55,000. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of BlackRock by 7.1% during the first quarter. Transamerica Financial Advisors LLC now owns 1,021 shares of the asset manager's stock valued at $966,000 after purchasing an additional 68 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Down 0.6%

NYSE:BLK opened at $1,133.45 on Thursday. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,171.89. The stock has a market capitalization of $175.51 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.18 and a beta of 1.42. 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 company's 50-day simple moving average is $1,095.68 and its 200-day simple moving average is $995.51.

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 the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. BlackRock's revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $10.36 EPS. On average, equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company's stock, valued at $68,763,964.50. This trade represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the transaction, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BLK. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Wells Fargo & Company lowered their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Barclays upped their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. UBS Group reaffirmed a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Morgan Stanley lowered their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

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.

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