BlackRock, Inc. (NYSE:BLK) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,150 shares of the asset manager’s stock after selling 6,793 shares during the quarter. Rhumbline Advisers owned about 0.19% of BlackRock worth $221,355,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Carolinas Wealth Consulting LLC lifted its position in BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after buying an additional 40 shares during the last quarter. Zhang Financial LLC raised its stake in shares of BlackRock by 24.0% in the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 171 shares during the period. California State Teachers Retirement System lifted its holdings in shares of BlackRock by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares during the last quarter. Farrow Financial Inc. purchased a new position in shares of BlackRock during the 4th quarter worth approximately $2,228,000. Finally, Axxcess Wealth Management LLC increased its holdings in BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 29,450 shares of the company’s 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 document filed with the SEC, which is available at this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of BlackRock 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 transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on BLK shares. Barclays initiated coverage on BlackRock in a research report on Tuesday, August 27th. They set an “overweight” rating and a $985.00 price target for the company. Evercore ISI lifted their target price on BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen cut their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley reduced their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $881.47.

BlackRock Price Performance

Shares of BLK opened at $901.81 on Tuesday. The firm has a market capitalization of $134.01 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.97 and a beta of 1.32. The firm’s fifty day simple moving average is $841.26 and its 200-day simple moving average is $809.63. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $903.46. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted 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. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $9.28 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

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.