Skandinaviska Enskilda Banken AB publ Has $29.01 Million Stock Holdings in BlackRock (NYSE:BLK)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in BlackRock by 4.3%, owning 30,651 shares valued at approximately $29 million as of its latest SEC filing.
• BlackRock reported earnings of $12.05 per share, exceeding estimates of $10.41, and achieved a net margin of 29.68% with revenue of $5.42 billion during the last quarter.
• The company declared a quarterly dividend of $5.21, payable on September 23rd, reflecting an annualized dividend of $20.84 and a yield of 1.85%.

Skandinaviska Enskilda Banken AB publ lessened its position in shares of BlackRock (NYSE:BLK - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,651 shares of the asset manager's stock after selling 1,366 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in BlackRock were worth $29,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Phoenix Financial Ltd. grew its holdings in shares of BlackRock by 72.9% during the 1st quarter. Phoenix Financial Ltd. now owns 1,252 shares of the asset manager's stock worth $1,191,000 after purchasing an additional 528 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of BlackRock during the 1st quarter worth approximately $1,734,000. Drive Wealth Management LLC lifted its position in shares of BlackRock by 241.4% during the 1st quarter. Drive Wealth Management LLC now owns 1,837 shares of the asset manager's stock worth $1,739,000 after buying an additional 1,299 shares during the period. Trilogy Capital Inc. lifted its position in shares of BlackRock by 54.8% during the 1st quarter. Trilogy Capital Inc. now owns 791 shares of the asset manager's stock worth $749,000 after buying an additional 280 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of BlackRock by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 50,203 shares of the asset manager's stock worth $47,516,000 after buying an additional 1,254 shares during the period. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Trading Up 0.2%

Shares of BlackRock stock traded up $1.71 during trading on Wednesday, reaching $1,123.24. 117,477 shares of the company were exchanged, compared to its average volume of 785,415. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,130.66. The business has a 50-day moving average price of $1,032.58 and a 200-day moving average price of $978.79. The firm has a market capitalization of $174.02 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 2.26 and a beta of 1.41.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the firm earned $10.36 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that BlackRock will post 47.41 EPS 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 paid a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.86%. BlackRock's payout ratio is 50.39%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BLK shares. Telsey Advisory Group restated an "outperform" rating on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley cut their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. UBS Group reiterated a "neutral" rating and issued a $980.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Barclays lifted their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,151.21.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director directly owned 19,205 shares of the company's stock, valued at approximately $21,617,148. The trade was a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,352 shares of company stock valued at $55,486,962. Company insiders own 1.98% of the company's stock.

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.