BlackRock, Inc. (NYSE:BLK) Shares Sold by Nemes Rush Group LLC

Nemes Rush Group LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275 shares of the asset manager’s stock after selling 70 shares during the period. Nemes Rush Group LLC’s holdings in BlackRock were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BLK. Compass Ion Advisors LLC lifted its position in BlackRock by 19.2% during the third quarter. Compass Ion Advisors LLC now owns 373 shares of the asset manager’s stock worth $241,000 after buying an additional 60 shares in the last quarter. Welch & Forbes LLC lifted its position in BlackRock by 3.1% during the third quarter. Welch & Forbes LLC now owns 1,852 shares of the asset manager’s stock worth $1,197,000 after buying an additional 56 shares in the last quarter. Private Advisor Group LLC lifted its position in BlackRock by 6.5% during the third quarter. Private Advisor Group LLC now owns 12,675 shares of the asset manager’s stock worth $8,194,000 after buying an additional 774 shares in the last quarter. MGO One Seven LLC raised its position in BlackRock by 11.8% in the third quarter. MGO One Seven LLC now owns 1,899 shares of the asset manager’s stock valued at $1,228,000 after purchasing an additional 200 shares during the period. Finally, Graybill Wealth Management LTD. raised its position in BlackRock by 0.3% in the third quarter. Graybill Wealth Management LTD. now owns 8,351 shares of the asset manager’s stock valued at $5,399,000 after purchasing an additional 23 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

BlackRock Trading Down 0.3 %

Shares of BLK stock traded down $2.73 on Wednesday, hitting $802.20. The stock had a trading volume of 97,320 shares, compared to its average volume of 605,563. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The firm has a market capitalization of $119.21 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.66 and a beta of 1.37. BlackRock, Inc. has a 1 year low of $596.18 and a 1 year high of $845.00. The company’s 50 day moving average price is $791.40 and its 200-day moving average price is $781.38.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm posted $7.93 EPS. BlackRock’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $20.40 annualized dividend and a yield of 2.54%. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

In other news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders sold 76,037 shares of company stock valued at $61,743,127 in the last three months. 0.90% of the stock is owned by corporate insiders.

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.