Brighton Jones LLC lowered its position in BlackRock, Inc. (NYSE:BLK – Get Rating) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 867 shares of the asset manager’s stock after selling 51 shares during the period. Brighton Jones LLC’s holdings in BlackRock were worth $663,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in BlackRock by 35.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock worth $783,000 after purchasing an additional 268 shares in the last quarter. Insight Advisors LLC PA lifted its stake in BlackRock by 73.1% in the 1st quarter. Insight Advisors LLC PA now owns 1,025 shares of the asset manager’s stock worth $783,000 after purchasing an additional 433 shares in the last quarter. Moors & Cabot Inc. lifted its stake in BlackRock by 1.3% in the 1st quarter. Moors & Cabot Inc. now owns 8,935 shares of the asset manager’s stock worth $6,828,000 after purchasing an additional 111 shares in the last quarter. Bank of Hawaii lifted its stake in BlackRock by 2.6% in the 1st quarter. Bank of Hawaii now owns 1,611 shares of the asset manager’s stock worth $1,231,000 after purchasing an additional 41 shares in the last quarter. Finally, Prudential PLC lifted its stake in BlackRock by 94.3% in the 1st quarter. Prudential PLC now owns 6,970 shares of the asset manager’s stock worth $5,326,000 after purchasing an additional 3,382 shares in the last quarter. Institutional investors own 76.88% of the company’s stock.
BlackRock Stock Performance
BlackRock stock opened at $691.92 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.64 and a quick ratio of 3.64. BlackRock, Inc. has a 1-year low of $575.60 and a 1-year high of $973.16. The firm has a market capitalization of $104.32 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 3.47 and a beta of 1.23. The company’s 50-day moving average is $666.16 and its 200 day moving average is $671.81.
BlackRock (NYSE:BLK – Get Rating) last posted its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the company earned $10.03 earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast that BlackRock, Inc. will post 33.92 EPS for the current year.
BlackRock Increases Dividend
The business also recently announced a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be paid a $4.88 dividend. This is an increase from BlackRock’s previous dividend of $2.29. The ex-dividend date is Tuesday, September 6th. BlackRock’s dividend payout ratio is currently 51.46%.
Insiders Place Their Bets
In other BlackRock news, President Robert Kapito sold 37,588 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now directly owns 226,680 shares in the company, valued at approximately $143,461,238.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BlackRock news, Director Mark Mccombe sold 1,360 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the transaction, the director now directly owns 21,106 shares in the company, valued at approximately $15,614,007.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert Kapito sold 37,588 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the transaction, the president now owns 226,680 shares in the company, valued at $143,461,238.40. The disclosure for this sale can be found here. Insiders have sold 83,448 shares of company stock worth $55,259,953 in the last three months. Corporate insiders own 1.06% of the company’s stock.
Wall Street Analysts Forecast Growth
BLK has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. The Goldman Sachs Group decreased their target price on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $804.46.
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.
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