US Asset Management LLC Sells 32 Shares of BlackRock, Inc. (NYSE:BLK)

US Asset Management LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 532 shares of the asset manager’s stock after selling 32 shares during the quarter. US Asset Management LLC’s holdings in BlackRock were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Diversify Wealth Management LLC acquired a new position in shares of BlackRock in the fourth quarter valued at $259,000. Simon Quick Advisors LLC raised its stake in shares of BlackRock by 30.9% in the fourth quarter. Simon Quick Advisors LLC now owns 352 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 83 shares in the last quarter. XML Financial LLC raised its stake in shares of BlackRock by 5.3% in the fourth quarter. XML Financial LLC now owns 520 shares of the asset manager’s stock valued at $533,000 after purchasing an additional 26 shares in the last quarter. Magnus Financial Group LLC raised its stake in shares of BlackRock by 9.2% in the fourth quarter. Magnus Financial Group LLC now owns 391 shares of the asset manager’s stock valued at $401,000 after purchasing an additional 33 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its stake in shares of BlackRock by 0.3% in the fourth quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager’s stock valued at $3,496,000 after purchasing an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BLK. Wells Fargo & Company dropped their price objective on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Bank of America dropped their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. TD Cowen dropped their price objective on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Finally, Wall Street Zen began coverage on BlackRock in a research note on Friday, May 16th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

BlackRock Price Performance

Shares of BLK opened at $969.56 on Friday. 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, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The stock has a market cap of $150.21 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The stock’s 50-day moving average price is $920.79 and its two-hundred day moving average price is $978.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $9.81 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio is currently 50.63%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the sale, the director now owns 66,034 shares in the company, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 12,430 shares of company stock valued at $11,237,249 over the last 90 days. 1.98% of the stock is owned by company insiders.

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.