TD Private Client Wealth LLC Sells 316 Shares of BlackRock $BLK

Key Points

• TD Private Client Wealth LLC sold 316 shares of BlackRock, reducing its holdings by 6.5%, while still owning 4,550 shares valued at approximately $4.77 million.
• BlackRock recently reported earnings of $12.05 per share, exceeding analysts' expectations, and achieved a year-over-year revenue growth of 12.9%.
• Insider trading shows significant sales, with Director J. Richard Kushel and CEO Laurence Fink selling 17,142 and 12,054 shares respectively, indicating a trend in profit-taking among executives.

TD Private Client Wealth LLC decreased its holdings in shares of BlackRock (NYSE:BLK - Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,550 shares of the asset manager's stock after selling 316 shares during the quarter. TD Private Client Wealth LLC's holdings in BlackRock were worth $4,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. grew its stake in BlackRock by 3.3% in the 2nd quarter. Mather Group LLC. now owns 1,623 shares of the asset manager's stock worth $1,703,000 after buying an additional 52 shares in the last quarter. Carr Financial Group Corp raised its position in BlackRock by 10.8% during the second quarter. Carr Financial Group Corp now owns 369 shares of the asset manager's stock valued at $388,000 after purchasing an additional 36 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its stake in BlackRock by 5.5% during the second quarter. Pine Haven Investment Counsel Inc now owns 1,008 shares of the asset manager's stock worth $1,058,000 after purchasing an additional 53 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of BlackRock by 2.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,628 shares of the asset manager's stock worth $68,860,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Chronos Wealth Management LLC increased its position in shares of BlackRock by 6.3% during the 2nd quarter. Chronos Wealth Management LLC now owns 3,100 shares of the asset manager's stock valued at $3,253,000 after purchasing an additional 185 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLK shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Zacks Research downgraded BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Morgan Stanley dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a report on Wednesday, July 16th. Argus reaffirmed a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their price objective on BlackRock from $1,180.00 to $1,170.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,154.07.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 12,054 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 251,697 shares in the company, valued at $283,267,354.71. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,494 shares of company stock worth $74,694,573. Insiders own 1.98% of the company's stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,129.10 on Thursday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The stock has a market capitalization of $174.84 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.17 and a beta of 1.45. The company's 50-day moving average is $1,122.91 and its 200 day moving average is $1,016.47. 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 (NYSE:BLK - Get Free Report) last posted its earnings results 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 firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.36 EPS. On average, sell-side analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock's dividend payout ratio (DPR) is 50.39%.

About BlackRock

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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