Pensionfund Sabic Decreases Position in BlackRock $BLK

Key Points

• Pensionfund Sabic has reduced its position in BlackRock (NYSE:BLK) by 12.5%, bringing its total shares to 2,100 worth approximately $1,988,000 after selling 300 shares in the first quarter.
• Insider transactions included Rachel Lord selling 18,036 shares and CEO Laurence Fink selling 14,828 shares, leading to ownership decreases of 48.43% and 5.32%, respectively.
• BlackRock recently announced a quarterly dividend of $5.21 per share, which translates to an annualized yield of 1.9% and a payout ratio of 50.39%.

Pensionfund Sabic decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the asset manager's stock after selling 300 shares during the quarter. Pensionfund Sabic's holdings in BlackRock were worth $1,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BLK. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% during the first 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 last quarter. Game Plan Financial Advisors LLC increased its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after buying an additional 15 shares during the period. Investment Management Corp VA ADV acquired a new position in BlackRock during the fourth quarter worth approximately $30,000. Cheviot Value Management LLC acquired a new position in BlackRock during the first quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.69% of the company's stock.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the transaction, the director owned 19,205 shares of the company's stock, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 14,828 shares of the company's stock in a transaction on Thursday, July 24th. The stock was 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 $296,002,472.28. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised BlackRock to a "hold" rating in a research report on Saturday, May 24th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 16th. Barclays lifted their price target on BlackRock from $990.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Evercore ISI lifted their price target on BlackRock from $1,170.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,154.07.

BlackRock Price Performance

BlackRock stock opened at $1,124.34 on Friday. BlackRock has a 12 month low of $773.74 and a 12 month 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 business has a 50 day simple moving average of $1,115.88 and a 200-day simple moving average of $1,007.01. The stock has a market capitalization of $174.10 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45.

BlackRock (NYSE:BLK - Get Free Report) last released 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 return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the prior year, the business earned $10.36 earnings per share. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

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

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.

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