SVB Wealth LLC Trims Position in BlackRock, Inc. (NYSE:BLK)

SVB Wealth LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 5.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,884 shares of the asset manager’s stock after selling 634 shares during the quarter. SVB Wealth LLC’s holdings in BlackRock were worth $8,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after buying an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after buying an additional 435,358 shares in the last quarter. Capital World Investors boosted its holdings in shares of BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares in the last quarter. Capital International Investors boosted its holdings in shares of BlackRock by 2.4% in the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after buying an additional 58,681 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BlackRock in the 4th quarter valued at about $1,812,920,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of NYSE:BLK traded down $9.72 during trading on Friday, hitting $866.92. 748,945 shares of the stock traded hands, compared to its average volume of 587,817. The company has a fifty day moving average price of $848.57 and a two-hundred day moving average price of $811.77. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $903.46. The company has a market cap of $128.82 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.97 and a beta of 1.30. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company earned $9.28 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 annualized dividend and a yield of 2.35%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders have sold a total of 93,042 shares of company stock valued at $79,387,117 in the last 90 days. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Argus raised their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Citigroup lifted their target price on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Barclays initiated coverage on shares of BlackRock in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $883.13.

BlackRock Company 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.