State of Alaska Department of Revenue Sells 700 Shares of BlackRock $BLK

Key Points

• The State of Alaska Department of Revenue reduced its holdings in BlackRock by 4.1%, selling 700 shares during the second quarter, leaving it with 16,357 shares valued at approximately $17.16 million.
• BlackRock reported $12.05 EPS for the last quarter, exceeding analyst expectations, and had a quarterly revenue of $5.42 billion, marking a 12.9% increase year-over-year.
• Insider trading activity was noted, with CEO Laurence Fink selling 12,054 shares for around $13.57 million, indicating a 4.57% decrease in his position.

State of Alaska Department of Revenue decreased its position in BlackRock (NYSE:BLK - Free Report) by 4.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,357 shares of the asset manager's stock after selling 700 shares during the period. State of Alaska Department of Revenue's holdings in BlackRock were worth $17,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in shares of BlackRock by 76.5% in 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 grew its holdings in shares of BlackRock by 100.0% in the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager's stock worth $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. grew its holdings in shares of BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager's stock worth $28,000 after purchasing an additional 18 shares during the last quarter. Cheviot Value Management LLC bought a new position in shares of BlackRock in the first quarter worth approximately $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of BlackRock in the first quarter worth approximately $31,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Up 0.9%

NYSE:BLK opened at $1,157.69 on Friday. The firm has a market capitalization of $179.27 billion, a P/E ratio of 27.99, a PEG ratio of 2.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The company's 50-day simple moving average is $1,124.77 and its 200 day simple moving average is $1,019.76.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.36 earnings per share. As a group, analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock's dividend payout ratio is 50.39%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLK. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Zacks Research cut shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Evercore ISI lifted their price target on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and an average target price of $1,154.07.

Insider Buying and Selling at BlackRock

In other news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. The trade was a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the completion of the transaction, the chief executive officer directly owned 251,697 shares of the company's stock, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last ninety days. 1.98% of the stock is owned by company 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.

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