BlackRock (NYSE:BLK) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has reduced its position in BlackRock (NYSE:BLK) by 22.3%, selling 30,527 shares and now holding shares worth approximately $100.86 million.
• BlackRock reported earnings of $12.05 per share for the last quarter, which exceeds analysts' expectations and signifies a 12.9% revenue increase year-over-year.
• The company has recently declared a quarterly dividend of $5.21, representing an annualized dividend of $20.84 and a yield of 1.86%.

Mackenzie Financial Corp decreased its holdings in BlackRock (NYSE:BLK - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,562 shares of the asset manager's stock after selling 30,527 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of BlackRock worth $100,859,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of BlackRock by 104,598.9% during the 1st 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of BlackRock by 401.5% during the 4th 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 worth $1,122,743,000 after buying an additional 876,836 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $572,730,000. Ameriprise Financial Inc. increased its holdings in shares of BlackRock by 18.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after buying an additional 329,244 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of BlackRock by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,591,716 shares of the asset manager's stock worth $1,631,684,000 after buying an additional 272,176 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on 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 transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,352 shares of company stock worth $55,486,962. 1.98% of the stock is owned by company insiders.

BlackRock Stock Down 1.6%

Shares of BlackRock stock traded down $17.51 during trading on Friday, hitting $1,088.50. 278,234 shares of the stock were exchanged, compared to its average volume of 781,666. The firm's 50-day moving average price is $1,038.13 and its 200 day moving average price is $980.77. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,130.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market cap of $168.64 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 2.25 and a beta of 1.41.

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

BlackRock Dividend Announcement

The firm 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 $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. BlackRock's payout ratio is currently 50.39%.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. 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 report on Wednesday, July 16th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, BlackRock has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

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.