CarsonAllaria Wealth Management Ltd. Has $287,000 Position in BlackRock, Inc. (NYSE:BLK)

CarsonAllaria Wealth Management Ltd. lessened its position in BlackRock, Inc. (NYSE:BLK) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 364 shares of the asset manager’s stock after selling 29 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in BlackRock were worth $287,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its position in BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares during the last quarter. Capital World Investors increased its stake in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital International Investors raised its position in shares of BlackRock by 2.4% during the fourth quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after acquiring an additional 58,681 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of BlackRock during the fourth quarter valued at $1,812,920,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BLK. TD Cowen lowered their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley reduced their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Citigroup upped their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI raised 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $874.07.

BlackRock Stock Down 1.1 %

Shares of BLK traded down $9.34 on Tuesday, hitting $860.87. The company’s stock had a trading volume of 348,720 shares, compared to its average volume of 599,316. The firm has a market capitalization of $127.93 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.92 and a beta of 1.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $885.10. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average price is $822.44 and its 200-day moving average price is $803.64.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 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 analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.28 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.23 EPS for the current year.

BlackRock Dividend Announcement

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

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,042 shares of company stock valued at $68,587,117. 0.90% of the stock is owned by insiders.

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.