M. Kulyk & Associates LLC Sells 504 Shares of BlackRock (NYSE:BLK)

M. Kulyk & Associates LLC reduced its stake in BlackRock (NYSE:BLK - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,010 shares of the asset manager's stock after selling 504 shares during the quarter. BlackRock makes up 1.5% of M. Kulyk & Associates LLC's investment portfolio, making the stock its 23rd largest holding. M. Kulyk & Associates LLC's holdings in BlackRock were worth $6,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC increased its position in shares of BlackRock by 104,598.9% during the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock valued at $3,312,759,000 after purchasing an additional 3,496,740 shares during the period. Norges Bank acquired a new position in shares of BlackRock during the fourth quarter valued at $2,356,357,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of BlackRock by 401.5% during 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 acquiring an additional 876,836 shares during the period. Envestnet Asset Management Inc. acquired a new position in BlackRock in the fourth quarter valued at about $572,730,000. Finally, Ameriprise Financial Inc. lifted its stake in BlackRock by 18.6% in the fourth quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock valued at $2,152,907,000 after buying an additional 329,244 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK traded down $1.68 during mid-day trading on Thursday, reaching $1,118.69. The company's stock had a trading volume of 539,434 shares, compared to its average volume of 798,309. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,125.76. The stock has a market cap of $173.32 billion, a P/E ratio of 27.05, a PEG ratio of 2.22 and a beta of 1.41. The business has a 50-day simple moving average of $1,022.22 and a two-hundred day simple moving average of $975.06. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $10.36 EPS. As a group, equities research analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.86%. BlackRock's dividend payout ratio (DPR) is presently 50.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BLK shares. The Goldman Sachs Group restated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley decreased their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and set a $980.00 price objective on shares of BlackRock in a report on Tuesday, July 8th. Barclays increased their price objective on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

About BlackRock

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.