BlackRock, Inc. (NYSE:BLK) Shares Sold by Legacy Advisors LLC

Legacy Advisors LLC lessened its holdings in BlackRock, Inc. (NYSE:BLKFree Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733 shares of the asset manager’s stock after selling 33 shares during the period. Legacy Advisors LLC’s holdings in BlackRock were worth $595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its position in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $32,000. Finally, Knuff & Co LLC boosted its position in BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley lifted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group lifted their price objective on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $845.42.

Get Our Latest Stock Report on BlackRock

BlackRock Stock Performance

NYSE BLK traded down $11.82 during trading on Wednesday, reaching $759.59. The company’s stock had a trading volume of 283,113 shares, compared to its average volume of 603,210. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm has a market cap of $112.88 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.61 and a beta of 1.37. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The business’s fifty day moving average price is $788.98 and its 200-day moving average price is $785.92.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.93 earnings per share. As a group, analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.69%. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

About BlackRock

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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