BlackRock, Inc. (NYSE:BLK) Holdings Cut by Wharton Business Group LLC

Wharton Business Group LLC lowered its holdings in BlackRock, Inc. (NYSE:BLKGet Rating) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 583 shares of the asset manager’s stock after selling 25 shares during the period. Wharton Business Group LLC’s holdings in BlackRock were worth $446,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. raised its stake in shares of BlackRock by 0.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 3,649 shares of the asset manager’s stock worth $3,073,000 after acquiring an additional 15 shares during the last quarter. Phocas Financial Corp. raised its stake in shares of BlackRock by 2.4% in the fourth quarter. Phocas Financial Corp. now owns 650 shares of the asset manager’s stock worth $595,000 after acquiring an additional 15 shares during the last quarter. Disciplined Investments LLC raised its stake in shares of BlackRock by 45.5% in the first quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock worth $37,000 after acquiring an additional 15 shares during the last quarter. Grove Bank & Trust raised its stake in shares of BlackRock by 4.3% in the first quarter. Grove Bank & Trust now owns 361 shares of the asset manager’s stock worth $276,000 after acquiring an additional 15 shares during the last quarter. Finally, SouthState Corp raised its stake in shares of BlackRock by 2.5% in the first quarter. SouthState Corp now owns 666 shares of the asset manager’s stock worth $509,000 after acquiring an additional 16 shares during the last quarter. Institutional investors own 76.88% of the company’s stock.

Insider Activity

In other news, Director Mark Mccombe sold 1,360 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the transaction, the director now owns 21,106 shares in the company, valued at $15,614,007.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the completion of the transaction, the president now owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Mccombe sold 1,360 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $739.79, for a total transaction of $1,006,114.40. Following the transaction, the director now owns 21,106 shares of the company’s stock, valued at approximately $15,614,007.74. The disclosure for this sale can be found here. Insiders sold 83,448 shares of company stock worth $55,259,953 over the last quarter. 1.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research note on Tuesday, June 28th. StockNews.com raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. The Goldman Sachs Group dropped their price target on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $720.00 to $860.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $804.46.

BlackRock Stock Down 7.4 %

BlackRock stock opened at $644.91 on Wednesday. The stock has a market capitalization of $97.23 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 3.64 and a beta of 1.23. BlackRock, Inc. has a twelve month low of $575.60 and a twelve month high of $973.16. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $669.82 and a 200-day moving average of $670.05.

BlackRock (NYSE:BLKGet Rating) last released its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.74%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $10.03 EPS. On average, equities research analysts anticipate that BlackRock, Inc. will post 33.92 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be issued a $4.88 dividend. The ex-dividend date is Tuesday, September 6th. This is a boost from BlackRock’s previous dividend of $2.29. BlackRock’s dividend payout ratio is 51.46%.

BlackRock Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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