HS Management Partners LLC Has $50.19 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

HS Management Partners LLC decreased its stake in BlackRock, Inc. (NYSE:BLK) by 60.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,564 shares of the asset manager’s stock after selling 101,259 shares during the period. BlackRock accounts for about 1.5% of HS Management Partners LLC’s holdings, making the stock its 23rd biggest holding. HS Management Partners LLC’s holdings in BlackRock were worth $50,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BLK. DT Investment Partners LLC boosted its stake in BlackRock by 1.1% during the first quarter. DT Investment Partners LLC now owns 1,078 shares of the asset manager’s stock valued at $813,000 after buying an additional 12 shares during the period. Atlas Brown Inc. boosted its stake in BlackRock by 1.4% during the first quarter. Atlas Brown Inc. now owns 941 shares of the asset manager’s stock valued at $709,000 after buying an additional 13 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in BlackRock by 1.1% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,246 shares of the asset manager’s stock valued at $939,000 after buying an additional 13 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in BlackRock by 0.7% during the first quarter. Vestmark Advisory Solutions Inc. now owns 1,971 shares of the asset manager’s stock valued at $1,486,000 after buying an additional 13 shares during the period. Finally, Kanawha Capital Management LLC boosted its stake in BlackRock by 0.8% during the first quarter. Kanawha Capital Management LLC now owns 1,806 shares of the asset manager’s stock valued at $1,362,000 after buying an additional 14 shares during the period. 80.13% of the stock is owned by institutional investors.

In other BlackRock news, CEO Laurence Fink sold 31,668 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $865.89, for a total transaction of $27,421,004.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc D. Comerchero sold 600 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $808.38, for a total value of $485,028.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,409 shares of company stock worth $32,875,775. 1.16% of the stock is owned by company insiders.

Shares of BLK traded down $1.45 during trading hours on Thursday, hitting $863.97. The company had a trading volume of 6,710 shares, compared to its average volume of 625,122. The firm has a market cap of $131.78 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.35 and a beta of 1.16. The company’s 50 day moving average is $851.57. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 0.65. BlackRock, Inc. has a 52-week low of $528.63 and a 52-week high of $890.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, April 14th. The asset manager reported $7.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.64 by $0.13. BlackRock had a return on equity of 15.72% and a net margin of 31.52%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $6.60 EPS. BlackRock’s revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 36.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 23rd. Investors of record on Friday, June 4th were issued a dividend of $4.13 per share. The ex-dividend date was Thursday, June 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.91%. BlackRock’s dividend payout ratio is presently 48.85%.

Several equities research analysts have issued reports on BLK shares. Evercore ISI reaffirmed a “buy” rating on shares of BlackRock in a research note on Sunday, June 6th. Morgan Stanley lifted their price target on BlackRock from $924.00 to $944.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 20th. Wells Fargo & Company lifted their price target on BlackRock from $875.00 to $890.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 7th. Citigroup lifted their price target on BlackRock from $950.00 to $1,000.00 in a research note on Friday, April 16th. Finally, Argus lifted their price target on BlackRock from $845.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $893.83.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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