Pacer Advisors Inc. lessened its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,236 shares of the asset manager's stock after selling 1,296 shares during the quarter. Pacer Advisors Inc.'s holdings in BlackRock were worth $9,688,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of BlackRock by 23.1% in the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after acquiring an additional 296 shares in the last quarter. WINTON GROUP Ltd grew its position in shares of BlackRock by 90.1% in the 4th quarter. WINTON GROUP Ltd now owns 614 shares of the asset manager's stock worth $629,000 after acquiring an additional 291 shares in the last quarter. L & S Advisors Inc lifted its holdings in shares of BlackRock by 36.6% in the 4th quarter. L & S Advisors Inc now owns 6,530 shares of the asset manager's stock worth $6,694,000 after purchasing an additional 1,749 shares during the last quarter. American Money Management LLC lifted its holdings in shares of BlackRock by 3.3% in the 4th quarter. American Money Management LLC now owns 7,551 shares of the asset manager's stock worth $7,741,000 after purchasing an additional 241 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of BlackRock in the 4th quarter worth approximately $615,000. Institutional investors and hedge funds own 80.69% of the company's stock.
BlackRock Stock Performance
BLK traded down $0.91 on Thursday, hitting $1,113.75. 125,215 shares of the stock traded hands, compared to its average volume of 782,552. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,130.66. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $172.55 billion, a PE ratio of 26.92, a P/E/G ratio of 2.27 and a beta of 1.41. The business has a fifty day moving average price of $1,035.42 and a two-hundred day moving average price of $979.73.
BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company posted $10.36 earnings per share. The company's quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that BlackRock will post 47.41 EPS for the current fiscal year.
BlackRock Announces Dividend
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 given a $5.21 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.87%. BlackRock's payout ratio is 50.39%.
Insider Buying and Selling at BlackRock
In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the 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 completion of the transaction, the chief executive officer directly owned 263,751 shares in the company, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,352 shares of company stock worth $55,486,962. 1.98% of the stock is currently owned by insiders.
Analyst Ratings Changes
BLK has been the topic of several recent research reports. UBS Group reissued a "neutral" rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Morgan Stanley dropped their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 16th. Barclays lifted their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Jefferies Financial Group upped their target price on BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Finally, Citigroup dropped their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.
Check Out Our Latest Report on BlackRock
About BlackRock
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Free Report)
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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