Weatherly Asset Management L. P. Has $1.23 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Weatherly Asset Management L. P. decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% in the second quarter, Holdings Channel.com reports. The firm owned 1,556 shares of the asset manager’s stock after selling 42 shares during the period. Weatherly Asset Management L. P.’s holdings in BlackRock were worth $1,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BLK. Gilbert & Cook Inc. raised its position in BlackRock by 4.8% during the fourth quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock valued at $1,109,000 after acquiring an additional 62 shares in the last quarter. Choreo LLC raised its holdings in shares of BlackRock by 22.4% during the 4th quarter. Choreo LLC now owns 847 shares of the asset manager’s stock valued at $688,000 after purchasing an additional 155 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of BlackRock by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 1,619 shares of the asset manager’s stock valued at $1,314,000 after purchasing an additional 38 shares during the last quarter. MONECO Advisors LLC acquired a new position in BlackRock during the fourth quarter worth $202,000. Finally, LGT Group Foundation raised its holdings in BlackRock by 0.5% during the fourth quarter. LGT Group Foundation now owns 53,687 shares of the asset manager’s stock valued at $43,723,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen dropped their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research 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. Evercore ISI upped their price objective on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $881.47.

BlackRock Stock Performance

BlackRock stock traded up $6.94 during mid-day trading on Friday, reaching $901.81. The company had a trading volume of 478,238 shares, compared to its average volume of 473,496. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $903.46. The company has a 50 day moving average of $839.20 and a 200-day moving average of $808.74. The firm has a market cap of $133.59 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.97 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm earned $9.28 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

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

Insider Activity

In other news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Pamela Daley sold 1,531 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

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.