Silvercrest Asset Management Group LLC Sells 701 Shares of BlackRock, Inc. (NYSE:BLK)

Silvercrest Asset Management Group LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,081 shares of the asset manager's stock after selling 701 shares during the period. Silvercrest Asset Management Group LLC's holdings in BlackRock were worth $15,460,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BLK. IAG Wealth Partners LLC bought a new stake in BlackRock in the fourth quarter valued at $26,000. Collier Financial acquired a new stake in shares of BlackRock in the 4th quarter valued at about $32,000. Compass Planning Associates Inc bought a new stake in BlackRock in the 4th quarter valued at about $33,000. Atwood & Palmer Inc. acquired a new position in BlackRock during the 4th quarter worth approximately $36,000. Finally, Synergy Investment Management LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Citigroup dropped their price target on shares of 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 eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,077.08.

BlackRock Stock Down 0.6%

BlackRock stock traded down $5.41 during midday trading on Friday, hitting $964.49. 208,257 shares of the stock were exchanged, compared to its average volume of 855,584. BlackRock, Inc. has a 52-week low of $752.29 and a 52-week high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $920.79 and its 200-day moving average price is $978.04. The stock has a market capitalization of $149.42 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.81 EPS. On average, research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.16%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Activity

In related news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now directly owns 3,720 shares of the company's stock, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 12,430 shares of company stock valued at $11,237,249 in the last ninety days. 1.98% of the stock is currently owned by insiders.

BlackRock Company 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.