Bamco Inc. NY Sells 450 Shares of BlackRock, Inc. (NYSE:BLK)

Bamco Inc. NY cut its stake in BlackRock, Inc. (NYSE:BLK) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,700 shares of the asset manager’s stock after selling 450 shares during the period. Bamco Inc. NY’s holdings in BlackRock were worth $1,417,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at $28,000. Finally, LFA Lugano Financial Advisors SA increased its holdings in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders have sold 66,978 shares of company stock valued at $54,692,570 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BLK. Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. UBS Group cut their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $872.29.

BlackRock Stock Performance

NYSE:BLK traded up $3.35 on Monday, hitting $859.55. The company’s stock had a trading volume of 206,592 shares, compared to its average volume of 604,190. The firm has a market capitalization of $127.73 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.90 and a beta of 1.32. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a one year low of $596.18 and a one year high of $861.14. The stock has a fifty day moving average of $795.87 and a two-hundred day moving average of $795.68.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share 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 analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.28 earnings per share. Research analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

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.