Nelson Van Denburg & Campbell Wealth Management Group LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 94.3% in the 2nd quarter, Holdings Channel reports. The firm owned 198 shares of the asset manager’s stock after selling 3,252 shares during the quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in BlackRock were worth $1,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. World Asset Management Inc lifted its holdings in shares of BlackRock by 1.3% during the second quarter. World Asset Management Inc now owns 7,442 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 99 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of BlackRock by 1.0% during the second quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock valued at $5,144,000 after purchasing an additional 100 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of BlackRock by 11.5% during the first quarter. HM Payson & Co. now owns 982 shares of the asset manager’s stock valued at $532,000 after purchasing an additional 101 shares during the last quarter. Private Asset Management Inc. lifted its holdings in shares of BlackRock by 2.8% during the second quarter. Private Asset Management Inc. now owns 3,782 shares of the asset manager’s stock valued at $1,887,000 after purchasing an additional 103 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC lifted its holdings in shares of BlackRock by 0.6% during the second quarter. Pillar Pacific Capital Management LLC now owns 17,449 shares of the asset manager’s stock valued at $8,708,000 after purchasing an additional 106 shares during the last quarter. 82.93% of the stock is owned by institutional investors and hedge funds.

Shares of BlackRock stock opened at $476.06 on Monday. The stock has a market capitalization of $75.01 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. BlackRock, Inc. has a 1 year low of $423.13 and a 1 year high of $594.52.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.55 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.24 EPS. research analysts forecast that BlackRock, Inc. will post 27.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be paid a dividend of $3.13 per share. The ex-dividend date is Thursday, September 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.63%. BlackRock’s dividend payout ratio (DPR) is 55.40%.

Several brokerages recently issued reports on BLK. ValuEngine downgraded BlackRock from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research note on Friday, August 31st. Deutsche Bank reduced their price objective on BlackRock from $570.00 to $561.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Goldman Sachs Group reduced their price objective on BlackRock to $570.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Finally, Barclays reduced their price objective on BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $594.25.

In other news, Chairman Laurence Fink sold 19,800 shares of the stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the transaction, the chairman now owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William E. Ford acquired 1,000 shares of the stock in a transaction dated Wednesday, July 18th. The shares were bought at an average cost of $507.98 per share, for a total transaction of $507,980.00. Following the acquisition, the director now owns 4,400 shares in the company, valued at approximately $2,235,112. The disclosure for this purchase can be found here. 1.86% of the stock is owned by company 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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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