9258 Wealth Management LLC Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

9258 Wealth Management LLC trimmed its position in BlackRock, Inc. (NYSE:BLKFree Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,055 shares of the asset manager’s stock after selling 26 shares during the quarter. 9258 Wealth Management LLC’s holdings in BlackRock were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Emerald Advisors LLC increased its stake in shares of BlackRock by 2.5% in the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock worth $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in BlackRock by 1.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after purchasing an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in BlackRock by 8.5% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in BlackRock during the 4th quarter valued at $439,000. Finally, Patten & Patten Inc. TN purchased a new position in BlackRock during the 4th quarter valued at $205,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

BlackRock Price Performance

NYSE BLK opened at $772.03 on Friday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a market capitalization of $114.72 billion, a P/E ratio of 19.62, a PEG ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $785.07 and a 200-day moving average price of $786.93.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.93 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s dividend payout ratio is 51.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on BLK. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

View Our Latest Research Report on BLK

BlackRock Company Profile

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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