BlackRock, Inc. (NYSE:BLK) Shares Sold by BBR Partners LLC

BBR Partners LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 44.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,008 shares of the asset manager’s stock after selling 813 shares during the quarter. BBR Partners LLC’s holdings in BlackRock were worth $794,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its stake in shares of BlackRock by 4.8% during the 4th quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after acquiring an additional 62 shares in the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at approximately $354,000. Picton Mahoney Asset Management purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $122,000. Wealthspire Advisors LLC grew its stake in BlackRock by 4.2% in the 4th quarter. Wealthspire Advisors LLC now owns 2,431 shares of the asset manager’s stock valued at $1,974,000 after acquiring an additional 97 shares during the period. Finally, Montag A & Associates Inc. increased its holdings in BlackRock by 7.2% in the 4th quarter. Montag A & Associates Inc. now owns 3,877 shares of the asset manager’s stock worth $3,147,000 after acquiring an additional 262 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods lifted their target price 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. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays assumed coverage on BlackRock in a report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 target price for the company. Citigroup lifted 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. Finally, TD Cowen reduced their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $883.13.

BlackRock Stock Performance

Shares of BLK stock opened at $875.92 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The firm has a market cap of $130.16 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.97 and a beta of 1.32. The firm’s 50 day moving average price is $846.98 and its 200-day moving average price is $811.26. BlackRock, Inc. has a one year low of $596.18 and a one year high of $903.46.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.28 EPS. As a group, equities research analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Transactions at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by company insiders.

About BlackRock

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.