Foster Victor Wealth Advisors LLC Sells 14,610 Shares of BlackRock, Inc. (NYSE:BLK)

Foster Victor Wealth Advisors LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 97.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 397 shares of the asset manager’s stock after selling 14,610 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in BlackRock were worth $335,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new position in BlackRock in the first quarter valued at about $27,000. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock in the 4th quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $28,000. Finally, Northwest Financial Advisors acquired a new stake in BlackRock in the fourth quarter valued at $32,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 0.0 %

Shares of NYSE BLK opened at $872.49 on Friday. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $885.10. The company’s fifty day simple moving average is $818.31 and its 200 day simple moving average is $802.34. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $129.65 billion, a PE ratio of 22.17, a P/E/G ratio of 1.92 and a beta of 1.32.

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

BlackRock Announces Dividend

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

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock 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 completion of the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,670,194.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,020 shares of company stock worth $93,595,347. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BLK shares. Keefe, Bruyette & Woods increased their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. TD Cowen lowered their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Argus raised their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $874.07.

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.