BlackRock, Inc. (NYSE:BLK) Shares Sold by Birch Capital Management LLC

Birch Capital Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 41.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 217 shares of the asset manager’s stock after selling 152 shares during the period. Birch Capital Management LLC’s holdings in BlackRock were worth $150,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BLK. Empower Advisory Group LLC acquired a new stake in shares of BlackRock in the first quarter worth approximately $308,000. Old North State Trust LLC boosted its holdings in shares of BlackRock by 5,876.2% in the 1st quarter. Old North State Trust LLC now owns 10,040 shares of the asset manager’s stock valued at $114,000 after purchasing an additional 9,872 shares during the last quarter. Duality Advisers LP grew its stake in shares of BlackRock by 3.8% during the 1st quarter. Duality Advisers LP now owns 2,496 shares of the asset manager’s stock valued at $1,670,000 after buying an additional 92 shares during the period. Marcum Wealth LLC grew its position in BlackRock by 19.6% during the first quarter. Marcum Wealth LLC now owns 1,019 shares of the asset manager’s stock valued at $682,000 after acquiring an additional 167 shares during the period. Finally, Resources Investment Advisors LLC. increased its stake in BlackRock by 12.5% during the first quarter. Resources Investment Advisors LLC. now owns 1,696 shares of the asset manager’s stock worth $1,135,000 after acquiring an additional 189 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In related news, CEO Laurence Fink sold 20,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total value of $14,989,208.00. Following the completion of the sale, the chief executive officer now owns 464,125 shares in the company, valued at approximately $344,399,315. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark Wiedman sold 2,079 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $733.82, for a total value of $1,525,611.78. Following the transaction, the director now directly owns 6,160 shares of the company’s stock, valued at $4,520,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurence Fink sold 20,200 shares of BlackRock stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $742.04, for a total value of $14,989,208.00. Following the sale, the chief executive officer now directly owns 464,125 shares of the company’s stock, valued at approximately $344,399,315. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on BlackRock from $780.00 to $820.00 in a report on Monday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $780.00 to $785.00 in a research note on Monday, July 17th. JPMorgan Chase & Co. cut their target price on shares of BlackRock from $780.00 to $770.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Citigroup upped their price target on shares of BlackRock from $750.00 to $815.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Finally, Jefferies Financial Group raised their price objective on BlackRock from $741.00 to $781.00 in a research report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus price target of $767.69.

BlackRock Trading Down 0.4 %

NYSE BLK opened at $694.89 on Tuesday. The company has a market capitalization of $103.75 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.21 and a quick ratio of 4.21. BlackRock, Inc. has a 12 month low of $503.12 and a 12 month high of $785.65. The company’s fifty day moving average price is $706.56 and its two-hundred day moving average price is $681.26.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, July 14th. The asset manager reported $9.28 EPS for the quarter, topping the consensus estimate of $8.52 by $0.76. BlackRock had a net margin of 29.90% and a return on equity of 14.29%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter last year, the company posted $7.36 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts predict that BlackRock, Inc. will post 35.48 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $20.00 annualized dividend and a yield of 2.88%. BlackRock’s payout ratio is presently 58.41%.

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.