Daymark Wealth Partners LLC Reduces Position in BlackRock, Inc. (NYSE:BLK)

Daymark Wealth Partners LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.1% in the first quarter, HoldingsChannel.com reports. The fund owned 9,174 shares of the asset manager’s stock after selling 98 shares during the period. Daymark Wealth Partners LLC’s holdings in BlackRock were worth $8,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. IAG Wealth Partners LLC purchased a new position in shares of BlackRock in the fourth quarter worth about $26,000. Investment Management Corp VA ADV acquired a new position in BlackRock in the 4th quarter worth approximately $30,000. Collier Financial purchased a new position in BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc purchased a new position in BlackRock during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in BlackRock during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $990.26 on Monday. The company has a market capitalization of $153.42 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The business’s 50 day moving average is $925.28 and its two-hundred day moving average is $972.77. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the business posted $9.81 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio is presently 50.63%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now owns 66,034 shares of the company’s stock, valued at $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLK. UBS Group cut their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price target on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Barclays raised their target price on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Finally, Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,082.46.

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.