BlackRock, Inc. (NYSE:BLK) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 20.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,659 shares of the asset manager’s stock after selling 14,369 shares during the period. Toronto Dominion Bank’s holdings in BlackRock were worth $44,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its holdings in BlackRock by 25.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after buying an additional 1,647 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after acquiring an additional 1,248 shares during the last quarter. Morningstar Investment Services LLC grew its stake in BlackRock by 97.1% during the 4th quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock valued at $93,151,000 after acquiring an additional 56,357 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in BlackRock by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $936.90 on Thursday. The business has a 50-day moving average of $872.80 and a 200 day moving average of $819.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $942.84. The stock has a market capitalization of $139.22 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company posted $9.28 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.18%. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BLK. Keefe, Bruyette & Woods upped their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company started coverage on BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price for the company. UBS Group reduced their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Evercore ISI upped their price objective on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, StockNews.com initiated coverage on shares of BlackRock in a research note on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction that occurred 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock worth $79,387,117 in the last quarter. 0.90% of the stock is owned by company insiders.

BlackRock 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.