BlackRock, Inc. (NYSE:BLK) Shares Sold by Hummer Financial Advisory Services Inc

Hummer Financial Advisory Services Inc reduced its position in BlackRock, Inc. (NYSE:BLK) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 750 shares of the asset manager’s stock after selling 25 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in BlackRock were worth $590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $27,000. Tennessee Valley Asset Management Partners acquired a new position in BlackRock during the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock during the 4th quarter worth approximately $28,000. Pineridge Advisors LLC acquired a new position in BlackRock during the 4th quarter worth approximately $28,000. Finally, Northwest Financial Advisors acquired a new position in BlackRock during the 4th quarter worth approximately $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. Evercore ISI boosted their price target on BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. UBS Group reduced their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Argus boosted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price target on BlackRock from $924.00 to $912.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods upped 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $872.29.

BlackRock Stock Performance

Shares of BLK stock traded up $1.38 on Friday, hitting $856.21. 290,379 shares of the stock traded hands, compared to its average volume of 607,510. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The company has a market capitalization of $127.23 billion, a PE ratio of 21.76, a PEG ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $885.10. The company’s fifty day moving average is $810.38 and its 200 day moving average is $799.81.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 business 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 business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $9.28 EPS. On average, equities research analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity at BlackRock

In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,959 shares of company stock valued at $73,660,507. Corporate insiders own 0.90% of the company’s stock.

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.