BlackRock, Inc. (NYSE:BLK) Shares Sold by Glassman Wealth Services

Glassman Wealth Services trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 726 shares of the asset manager’s stock after selling 24 shares during the period. Glassman Wealth Services’ holdings in BlackRock were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Founders Financial Alliance LLC raised its position in shares of BlackRock by 5.1% in the 4th quarter. Founders Financial Alliance LLC now owns 519 shares of the asset manager’s stock valued at $421,000 after purchasing an additional 25 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of BlackRock by 1.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 75,500 shares of the asset manager’s stock valued at $61,291,000 after purchasing an additional 1,396 shares in the last quarter. Nixon Peabody Trust Co. increased its holdings in shares of BlackRock by 523.8% in the 4th quarter. Nixon Peabody Trust Co. now owns 11,858 shares of the asset manager’s stock valued at $9,626,000 after acquiring an additional 9,957 shares during the last quarter. Skopos Labs Inc. bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $686,000. Finally, Team Hewins LLC bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $411,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

BlackRock Stock Performance

Shares of NYSE:BLK traded down $2.65 on Friday, hitting $781.90. The company’s stock had a trading volume of 429,047 shares, compared to its average volume of 526,893. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The company has a market capitalization of $116.19 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37. The stock’s 50-day moving average is $789.96 and its two-hundred day moving average is $783.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (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 company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business posted $7.93 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date is Thursday, June 6th. This represents a $20.40 annualized dividend and a dividend yield of 2.61%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders sold a total of 70,956 shares of company stock worth $57,252,931 over the last 90 days. 0.90% of the stock is currently 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.