Envestnet Portfolio Solutions Inc. Trims Position in BlackRock $BLK

Envestnet Portfolio Solutions Inc. trimmed its holdings in BlackRock (NYSE:BLK) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 21,620 shares of the asset manager’s stock after selling 995 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in BlackRock were worth $22,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of BlackRock by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after buying an additional 111,694 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of BlackRock by 32.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of BlackRock by 13.2% in the first quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after buying an additional 108,473 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares of the company’s stock, valued at approximately $68,763,964.50. The trade was a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock worth $74,694,573 in the last three months. 1.98% of the stock is owned by insiders.

BlackRock Stock Down 3.0%

BLK stock opened at $1,132.12 on Monday. The company’s 50 day simple moving average is $1,134.85 and its 200-day simple moving average is $1,035.56. The firm has a market capitalization of $175.31 billion, a PE ratio of 27.37, a P/E/G ratio of 2.15 and a beta of 1.45. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,184.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $10.36 earnings per share. Equities analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a $5.21 dividend. The ex-dividend date was Friday, September 5th. This represents a $20.84 annualized dividend and a dividend yield of 1.8%. BlackRock’s dividend payout ratio is currently 50.39%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BLK shares. Bank of America increased their price target on shares of BlackRock from $1,224.00 to $1,396.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Argus reissued a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Zacks Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Jefferies Financial Group increased their price target on shares of BlackRock from $1,196.00 to $1,325.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,258.56.

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.