Windward Capital Management Co. CA Sells 406 Shares of BlackRock $BLK

Key Points

• Windward Capital Management Co. CA holds a $37.1 million position in BlackRock, representing 3.2% of its investment portfolio, after reducing its holdings by 1.0% in the first quarter.
• BlackRock's recent quarterly earnings exceeded expectations, reporting $12.05 EPS and $5.42 billion in revenue, indicating a 12.9% year-over-year growth.
• The company has declared a quarterly dividend of $5.21 per share, set to be paid on September 23rd, with an annualized yield of 1.8% and a payout ratio of 50.39%.

Windward Capital Management Co. CA cut its stake in shares of BlackRock (NYSE:BLK - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 39,198 shares of the asset manager's stock after selling 406 shares during the period. BlackRock makes up approximately 3.2% of Windward Capital Management Co. CA's holdings, making the stock its 10th largest holding. Windward Capital Management Co. CA's holdings in BlackRock were worth $37,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in BlackRock during the 4th quarter worth $30,000. Fairway Wealth LLC increased its position in shares of 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 acquiring an additional 13 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of BlackRock in the first quarter worth about $31,000. Cheviot Value Management LLC purchased a new position in BlackRock in the first quarter valued at about $30,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in BlackRock during the 1st quarter valued at approximately $34,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the company's stock in a transaction dated Friday, July 25th. The shares were 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 owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Morgan Stanley reduced their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating for the company in a research note on Wednesday, July 16th. Zacks Research lowered shares of BlackRock from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. UBS Group restated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price target on BlackRock from $1,247.00 to $1,224.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group boosted their price objective on BlackRock from $959.00 to $1,210.00 in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, BlackRock has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.

BlackRock Stock Performance

Shares of NYSE:BLK traded up $0.5610 during trading on Wednesday, hitting $1,129.0310. 573,060 shares of the company traded hands, compared to its average volume of 761,595. The stock has a market capitalization of $174.83 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.28 and a beta of 1.42. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business's fifty day moving average is $1,077.04 and its 200-day moving average is $990.15.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings data 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 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm posted $10.36 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a $5.21 dividend. The ex-dividend date is Friday, September 5th. This represents a $20.84 annualized dividend and a yield of 1.8%. BlackRock's dividend payout ratio (DPR) is currently 50.39%.

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.