BlackRock $BLK Stock Position Decreased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its position in BlackRock (NYSE:BLKFree Report) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,096 shares of the asset manager’s stock after selling 2,845 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in BlackRock were worth $42,083,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. lifted its stake in BlackRock by 1.1% in the second quarter. FAS Wealth Partners Inc. now owns 817 shares of the asset manager’s stock valued at $857,000 after acquiring an additional 9 shares during the last quarter. First Financial Bank Trust Division increased its stake in shares of BlackRock by 0.5% during the 3rd quarter. First Financial Bank Trust Division now owns 1,794 shares of the asset manager’s stock worth $2,092,000 after purchasing an additional 9 shares during the last quarter. HM Payson & Co. raised its holdings in shares of BlackRock by 0.6% during the 3rd quarter. HM Payson & Co. now owns 1,444 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 9 shares in the last quarter. PUREfi Wealth LLC lifted its stake in shares of BlackRock by 2.0% in the 3rd quarter. PUREfi Wealth LLC now owns 460 shares of the asset manager’s stock valued at $536,000 after purchasing an additional 9 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its holdings in BlackRock by 1.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 938 shares of the asset manager’s stock worth $984,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

BlackRock Trading Down 0.0%

BlackRock stock opened at $922.79 on Friday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market capitalization of $143.53 billion, a PE ratio of 26.05, a PEG ratio of 1.18 and a beta of 1.48. The business’s 50-day simple moving average is $1,075.75 and its 200-day simple moving average is $1,092.85.

BlackRock (NYSE:BLKGet Free Report) last announced its earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating the consensus estimate of $12.55 by $0.61. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.80 billion. BlackRock had a return on equity of 14.78% and a net margin of 22.93%.The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.93 EPS. Equities research analysts forecast that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a $5.73 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.21. This represents a $22.92 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 64.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on BLK. Bank of America increased their target price on shares of BlackRock from $1,456.00 to $1,464.00 in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BlackRock in a research note on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating and set a $1,313.00 price objective on shares of BlackRock in a report on Tuesday, December 9th. Wall Street Zen upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,296.00 to $1,380.00 in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,308.89.

Check Out Our Latest Stock Report on BLK

Insider Activity at BlackRock

In other BlackRock news, Director Stephen Cohen sold 225 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $1,069.56, for a total value of $240,651.00. Following the sale, the director directly owned 5,661 shares in the company, valued at $6,054,779.16. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert L. Goldstein sold 5,293 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,084.22, for a total transaction of $5,738,776.46. Following the transaction, the chief operating officer directly owned 46,185 shares of the company’s stock, valued at $50,074,700.70. This represents a 10.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 111,319 shares of company stock worth $123,999,249. Insiders own 1.98% of the company’s stock.

BlackRock Profile

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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