BlackRock $BLK Holdings Decreased by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group Inc. IA ADV sold 805 shares of BlackRock, reducing its holdings by 19.9% to a total of 3,246 shares now worth approximately $3,072,000.
• BlackRock recently announced a quarterly dividend of $5.21, resulting in an annualized dividend yield of 1.8% and a payout ratio of 50.39%.
• Analysts have given BlackRock a consensus rating of "Moderate Buy" with a current price target of $1,151.21, following several upgrades and downgrades regarding the stock's valuation.

Nations Financial Group Inc. IA ADV lowered its stake in shares of BlackRock (NYSE:BLK - Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,246 shares of the asset manager's stock after selling 805 shares during the period. Nations Financial Group Inc. IA ADV's holdings in BlackRock were worth $3,072,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BLK. Fairway Wealth LLC raised its holdings in shares of 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 purchasing an additional 13 shares during the period. Investment Management Corp VA ADV purchased a new position in BlackRock in the 4th quarter worth approximately $30,000. Cheviot Value Management LLC acquired a new stake in BlackRock in the first quarter valued at approximately $30,000. MorganRosel Wealth Management LLC acquired a new stake in BlackRock in the first quarter valued at approximately $31,000. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of BlackRock during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling

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

BlackRock Price Performance

Shares of BLK traded up $1.34 during midday trading on Monday, reaching $1,136.35. The stock had a trading volume of 405,809 shares, compared to its average volume of 500,335. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The firm's 50 day moving average price is $1,074.33 and its 200-day moving average price is $989.18. The company has a market capitalization of $175.96 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.28 and a beta of 1.42.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.36 EPS. On average, analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on BLK. Jefferies Financial Group raised their price target on shares of BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. Morgan Stanley reduced their price target 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. Barclays raised their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Bank of America upped their target price on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.