Sage Mountain Advisors LLC Sells 29 Shares of BlackRock, Inc. (NYSE:BLK)

Sage Mountain Advisors LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 569 shares of the asset manager’s stock after selling 29 shares during the period. Sage Mountain Advisors LLC’s holdings in BlackRock were worth $448,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock in the first quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock in the fourth quarter worth approximately $28,000. Pineridge Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter worth $28,000. Northwest Financial Advisors bought a new stake in shares of BlackRock during the 4th quarter worth $32,000. Finally, Knuff & Co LLC boosted its holdings in shares of 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 buying an additional 13 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 27,000 shares of the 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 sale, 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 at the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 in the last quarter. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

Shares of BLK stock traded up $6.94 during mid-day trading on Friday, reaching $901.81. The company’s stock had a trading volume of 478,238 shares, compared to its average volume of 590,117. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $903.46. The company has a market cap of $134.01 billion, a P/E ratio of 22.92, a PEG ratio of 1.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm’s 50-day moving average is $839.20 and its two-hundred day moving average is $808.52.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion during 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $9.28 EPS. On average, research analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced 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 dividend yield of 2.26%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Citigroup upped their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Argus upped their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays initiated coverage on shares of BlackRock in a report on Tuesday. They set an “overweight” rating and a $985.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $881.47.

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.