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

Hoylecohen LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,926 shares of the asset manager’s stock after selling 465 shares during the period. BlackRock makes up approximately 1.6% of Hoylecohen LLC’s holdings, making the stock its 14th biggest holding. Hoylecohen LLC’s holdings in BlackRock were worth $19,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the 4th quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA boosted its position in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in BlackRock during the 4th quarter worth $32,000. Finally, Knuff & Co LLC boosted its position in BlackRock by 48.1% during the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.3 %

Shares of BLK stock traded down $2.61 during trading hours on Friday, hitting $781.94. 429,037 shares of the company were exchanged, compared to its average volume of 606,121. The stock has a market capitalization of $116.20 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 1.65 and a beta of 1.37. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The business’s 50-day simple moving average is $790.38 and its two-hundred day simple moving average is $781.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $7.93 earnings per share. Sell-side analysts predict that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.61%. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $845.42.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Insiders have sold 70,956 shares of company stock valued at $57,252,931 over the last quarter. Insiders own 0.90% of the company’s stock.

BlackRock Company 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.