Moody Aldrich Partners LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,662 shares of the asset manager’s stock after selling 435 shares during the quarter. Moody Aldrich Partners LLC’s holdings in BlackRock were worth $904,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of BlackRock by 19.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,131 shares of the asset manager’s stock worth $568,000 after buying an additional 186 shares during the period. Macquarie Group Ltd. increased its position in shares of BlackRock by 13.8% during the fourth quarter. Macquarie Group Ltd. now owns 71,471 shares of the asset manager’s stock worth $35,928,000 after buying an additional 8,640 shares during the period. Independent Investors Inc. acquired a new stake in shares of BlackRock during the first quarter worth $303,000. State of Alaska Department of Revenue increased its position in shares of BlackRock by 4.8% during the first quarter. State of Alaska Department of Revenue now owns 20,306 shares of the asset manager’s stock worth $8,934,000 after buying an additional 922 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in shares of BlackRock during the first quarter worth $27,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.
In related news, Director J. Richard Kushel sold 2,182 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $574.39, for a total transaction of $1,253,318.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 41,706 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $580.29, for a total transaction of $24,201,574.74. The disclosure for this sale can be found here. Insiders have sold 53,388 shares of company stock worth $30,536,679 over the last three months. 1.42% of the stock is owned by insiders.
Shares of BlackRock stock traded up $1.92 during trading hours on Friday, reaching $575.01. The company’s stock had a trading volume of 375,919 shares, compared to its average volume of 569,521. BlackRock, Inc. has a one year low of $323.98 and a one year high of $592.48. The company has a market capitalization of $88.70 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.97 and a beta of 1.27. The stock’s fifty day simple moving average is $556.48 and its two-hundred day simple moving average is $509.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.08 and a current ratio of 4.08.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 17th. The asset manager reported $7.85 earnings per share for the quarter, beating analysts’ consensus estimates of $6.90 by $0.95. BlackRock had a net margin of 29.55% and a return on equity of 14.14%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm earned $6.41 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 29.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $3.63 per share. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, September 3rd. BlackRock’s payout ratio is currently 50.98%.
Several research firms have recently weighed in on BLK. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $526.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Bank of America raised their price target on shares of BlackRock from $633.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Credit Suisse Group restated a “buy” rating and issued a $552.00 price target on shares of BlackRock in a report on Thursday, May 28th. BMO Capital Markets raised their price target on shares of BlackRock from $560.00 to $620.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Finally, Wells Fargo & Co raised their price target on shares of BlackRock from $605.00 to $615.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $600.17.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.