Donald L. Hagan LLC Reduces Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Donald L. Hagan LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,370 shares of the asset manager’s stock after selling 20 shares during the quarter. Donald L. Hagan LLC’s holdings in BlackRock were worth $1,079,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares during the period. Capital Research Global Investors boosted its holdings in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Capital World Investors boosted its holdings in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares during the period. Capital International Investors lifted its stake in shares of BlackRock by 2.4% during the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of BlackRock during the 4th quarter worth approximately $1,812,920,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. 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 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders have sold a total of 112,020 shares of company stock worth $93,595,347 in the last ninety days. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BLK shares. Citigroup raised their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Evercore ISI raised their price target on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen decreased their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $874.07.

BlackRock Stock Up 0.0 %

Shares of BLK traded up $0.43 during trading hours on Friday, hitting $872.49. The company had a trading volume of 395,236 shares, compared to its average volume of 601,810. The company has a market capitalization of $129.65 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10. The company’s fifty day moving average price is $818.31 and its two-hundred day moving average price is $802.54.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $9.28 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.34%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

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.