BlackRock, Inc. (NYSE:BLK) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,518 shares of the asset manager’s stock after selling 852 shares during the quarter. SVB Wealth LLC’s holdings in BlackRock were worth $9,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of BlackRock during the first quarter worth about $27,000. Private Wealth Management Group LLC acquired a new position in shares of BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE BLK traded up $6.02 during mid-day trading on Monday, hitting $862.22. 612,679 shares of the company were exchanged, compared to its average volume of 607,010. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $795.87 and a 200-day simple moving average of $795.68. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $865.17. The firm has a market cap of $128.13 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.90 and a beta of 1.32.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. BlackRock’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.28 earnings per share. On average, sell-side analysts forecast that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Insider Activity

In related news, Director Mark Wiedman sold 9,000 shares of BlackRock 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 sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders sold a total of 66,978 shares of company stock worth $54,692,570 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BLK shares. Keefe, Bruyette & Woods boosted their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen dropped their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Evercore ISI increased their price target on shares of BlackRock from $910.00 to $920.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. UBS Group dropped their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Morgan Stanley dropped their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $872.29.

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.