Sawtooth Solutions LLC cut its holdings in BlackRock, Inc. (NYSE:BLK – Get Rating) by 48.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,295 shares of the asset manager’s stock after selling 1,237 shares during the period. Sawtooth Solutions LLC’s holdings in BlackRock were worth $989,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new position in shares of BlackRock in the 4th quarter worth approximately $27,000. Confluence Wealth Services Inc. bought a new stake in shares of BlackRock in the 4th quarter valued at $35,000. McIlrath & Eck LLC boosted its stake in BlackRock by 67.9% in the 1st quarter. McIlrath & Eck LLC now owns 47 shares of the asset manager’s stock worth $36,000 after purchasing an additional 19 shares during the period. Disciplined Investments LLC boosted its stake in BlackRock by 45.5% in the 1st quarter. Disciplined Investments LLC now owns 48 shares of the asset manager’s stock worth $37,000 after purchasing an additional 15 shares during the period. Finally, Covestor Ltd acquired a new position in BlackRock in the 4th quarter worth $38,000. 76.88% of the stock is owned by institutional investors and hedge funds.
BlackRock Stock Down 1.7 %
BlackRock stock opened at $632.34 on Friday. BlackRock, Inc. has a twelve month low of $575.60 and a twelve month high of $973.16. The company’s 50-day moving average price is $670.39 and its two-hundred day moving average price is $669.87. The stock has a market cap of $95.34 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.38 and a beta of 1.23. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.37.
BlackRock Increases Dividend
The firm also recently announced a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be issued a dividend of $4.88 per share. 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 (DPR) is currently 51.46%.
Analyst Ratings Changes
A number of research firms have recently commented on BLK. StockNews.com upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reduced their price objective on shares of BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, The Goldman Sachs Group dropped their target price on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $804.46.
Insider Transactions at BlackRock
In other news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction that occurred 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 transaction, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Robert Kapito sold 37,588 shares of the stock in a transaction that occurred 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 sale, the president now owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 44,500 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the sale, the chief executive officer now owns 563,771 shares in the company, valued at approximately $385,963,264.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,448 shares of company stock valued at $55,259,953. 1.06% of the stock is currently owned by company insiders.
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.
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