BlackRock, Inc. (NYSE:BLK) Shares Sold by First Interstate Bank

First Interstate Bank reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 734 shares of the asset manager’s stock after selling 35 shares during the period. First Interstate Bank’s holdings in BlackRock were worth $578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC acquired a new stake in shares of BlackRock during the first quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new stake in BlackRock in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter valued at approximately $28,000. Lam Group Inc. acquired a new position in BlackRock during the first quarter worth $33,000. Finally, Fairman Group LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $877.94 on Tuesday. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $903.46. 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 firm has a market cap of $130.05 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.89 and a beta of 1.30. The stock’s 50-day moving average is $850.49 and its two-hundred day moving average is $812.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $9.28 earnings per share. Analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

Analyst Ratings Changes

A number of analysts have issued reports on BLK shares. 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. UBS Group cut their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley decreased their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Evercore ISI boosted their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $883.47.

Insider Buying and Selling

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