Duncker Streett & Co. Inc. Decreases Stock Position in BlackRock, Inc. (NYSE:BLK)

Duncker Streett & Co. Inc. reduced its position in BlackRock, Inc. (NYSE:BLK) by 10.1% in the second quarter, Holdings Channel.com reports. The fund owned 456 shares of the asset manager’s stock after selling 51 shares during the period. Duncker Streett & Co. Inc.’s holdings in BlackRock were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in BlackRock by 2.3% in the 1st 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 during the period. Capital Research Global Investors grew 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 worth $3,630,127,000 after purchasing an additional 435,358 shares during the period. Capital World Investors grew its position in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares during the period. Capital International Investors grew its position in BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock worth $2,006,490,000 after purchasing an additional 58,681 shares during the period. Finally, Norges Bank bought a new stake in BlackRock in the 4th quarter worth approximately $1,812,920,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.8 %

Shares of BlackRock stock opened at $901.81 on Friday. The company has a market capitalization of $133.59 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a fifty day moving average of $839.20 and a 200 day moving average of $808.74. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $903.46.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping 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 15.44%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.28 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.26%. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other BlackRock news, 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 value of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a legal 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 that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Citigroup boosted their price objective 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. Barclays initiated coverage on shares of BlackRock in a research report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price objective for the company. Morgan Stanley cut their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $881.47.

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.