North Point Portfolio Managers Corp OH Lowers Stock Holdings in BlackRock $BLK

Key Points

• North Point Portfolio Managers Corp OH has reduced its stake in BlackRock by 1.4%, owning 18,082 shares valued at approximately $18.97 million.
• Several institutional investors, including Vanguard Group and Royal Bank of Canada, have increased their positions in BlackRock during the first quarter of the year.
• BlackRock reported a quarterly earnings miss but showed revenue growth of 25.2% year-over-year, with a resultant EPS of $11.55 against the consensus estimate of $11.78.

North Point Portfolio Managers Corp OH reduced its stake in BlackRock (NYSE:BLK - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,082 shares of the asset manager's stock after selling 249 shares during the quarter. BlackRock comprises 3.3% of North Point Portfolio Managers Corp OH's holdings, making the stock its 8th largest position. North Point Portfolio Managers Corp OH's holdings in BlackRock were worth $18,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after acquiring an additional 387,466 shares in the last quarter. Royal Bank of Canada boosted its position in shares of BlackRock by 73.2% during the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager's stock worth $1,243,059,000 after acquiring an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of BlackRock by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager's stock worth $1,142,340,000 after acquiring an additional 111,694 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after acquiring an additional 279,336 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of BlackRock by 13.2% during the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager's stock worth $882,970,000 after acquiring an additional 108,473 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In related news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction 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 owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the transaction, the chief executive officer directly owned 263,751 shares of the company's stock, valued at $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock worth $74,694,573 over the last ninety days. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the topic of several analyst reports. TD Cowen increased their price target on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Morgan Stanley increased their price target on shares of BlackRock from $1,362.00 to $1,486.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $1,093.00 to $1,242.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. Evercore ISI raised their target price on shares of BlackRock from $1,200.00 to $1,230.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft set a $1,320.00 target price on shares of BlackRock and gave the company a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,300.81.

BlackRock Price Performance

BLK stock opened at $1,161.63 on Monday. The company has a fifty day moving average price of $1,140.85 and a 200-day moving average price of $1,043.90. The company has a market capitalization of $179.88 billion, a P/E ratio of 29.87, a PEG ratio of 2.01 and a beta of 1.45. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,219.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.78 by ($0.23). The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. BlackRock had a net margin of 26.64% and a return on equity of 15.36%. BlackRock's revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the business posted $11.46 EPS. As a group, equities analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were paid a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock's dividend payout ratio (DPR) is presently 53.59%.

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.

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