BlackRock, Inc. (NYSE:BLK) Shares Sold by Full Sail Capital LLC

Full Sail Capital LLC trimmed its position in BlackRock, Inc. (NYSE:BLK) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522 shares of the asset manager’s stock after selling 80 shares during the period. Full Sail Capital LLC’s holdings in BlackRock were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Ascent Group LLC increased its position in shares of BlackRock by 36.2% in the 2nd quarter. Ascent Group LLC now owns 787 shares of the asset manager’s stock valued at $620,000 after acquiring an additional 209 shares during the period. Kathmere Capital Management LLC increased its position in shares of BlackRock by 16.2% in the 2nd quarter. Kathmere Capital Management LLC now owns 388 shares of the asset manager’s stock valued at $305,000 after acquiring an additional 54 shares during the period. Alethea Capital Management LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $488,000. Ninepoint Partners LP acquired a new position in shares of BlackRock in the 2nd quarter valued at $716,000. Finally, Legal & General Group Plc increased its position in shares of BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on BLK. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Citigroup upped their price target on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Argus upped their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Evercore ISI upped their price target on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Trading Up 0.0 %

Shares of BlackRock stock opened at $945.21 on Friday. The firm has a market capitalization of $140.46 billion, a PE ratio of 24.02, a P/E/G ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $952.75. The firm’s 50-day moving average price is $879.35 and its 200 day moving average price is $821.77. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a $5.10 dividend. The ex-dividend date was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.16%. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. Insiders own 0.90% of the company’s stock.

About BlackRock

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.