OMERS ADMINISTRATION Corp Has $5.98 Million Position in BlackRock $BLK

Key Points

• OMERS ADMINISTRATION Corp has decreased its stake in BlackRock by 19.1%, resulting in ownership of 6,313 shares valued at approximately $5,975,000.
• Insider selling was noted, with Director Fabrizio Freda selling 4,434 shares worth about $4.98 million, and Director J. Richard Kushel selling 17,142 shares valued at over $19.2 million.
• BlackRock's latest earnings report showed a profit of $12.05 per share, exceeding analyst expectations, alongside revenue growth of 12.9% year-over-year.

OMERS ADMINISTRATION Corp reduced its position in BlackRock (NYSE:BLK - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,313 shares of the asset manager's stock after selling 1,490 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in BlackRock were worth $5,975,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% during the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager's stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of BlackRock during the fourth quarter valued at approximately $30,000. Cheviot Value Management LLC bought a new position in shares of BlackRock during the first quarter valued at approximately $30,000. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the first quarter valued at approximately $31,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of BlackRock during the first quarter valued at approximately $34,000. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLK. Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Wells Fargo & Company cut their target price on 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. Argus reaffirmed a "buy" rating on shares of BlackRock in a report on Tuesday, July 8th. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. Finally, UBS Group reissued a "neutral" rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,151.21.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the 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 transaction, the director directly owned 3,506 shares of the company's stock, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, the director directly 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 ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. Corporate insiders own 1.98% of the company's stock.

BlackRock Stock Down 1.4%

Shares of NYSE:BLK traded down $15.27 during midday trading on Tuesday, hitting $1,111.87. 255,723 shares of the stock were exchanged, compared to its average volume of 743,575. 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 has a market capitalization of $172.18 billion, a PE ratio of 26.88, a P/E/G ratio of 2.16 and a beta of 1.45. BlackRock has a 52-week low of $773.74 and a 52-week high of $1,171.89. The business's fifty day simple moving average is $1,104.65 and its two-hundred day simple moving average is $998.85.

BlackRock (NYSE:BLK - Get Free Report) last posted its 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. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 earnings per share. As a group, research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's dividend payout ratio is presently 50.39%.

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.