BlackRock, Inc. (NYSE:BLK) Shares Sold by Brooktree Capital Management

Brooktree Capital Management decreased its stake in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 31.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,646 shares of the asset manager’s stock after selling 751 shares during the period. BlackRock comprises approximately 0.8% of Brooktree Capital Management’s holdings, making the stock its 26th largest position. Brooktree Capital Management’s holdings in BlackRock were worth $1,258,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Steward Financial Group LLC bought a new position in shares of BlackRock during the 4th quarter valued at about $27,000. Western Pacific Wealth Management LP bought a new position in shares of BlackRock during the 4th quarter valued at about $27,000. Sierra Capital LLC bought a new position in shares of BlackRock during the 4th quarter valued at about $29,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of BlackRock in the fourth quarter worth about $29,000. Finally, Confluence Wealth Services Inc. acquired a new position in shares of BlackRock in the fourth quarter worth about $35,000. Institutional investors own 93.81% of the company’s stock.

Insider Activity

In other news, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Robert Kapito sold 37,588 shares of BlackRock stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the transaction, the president now owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the transaction, the chief executive officer now directly owns 563,771 shares in the company, valued at approximately $385,963,264.31. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Citigroup decreased their target price on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. UBS Group decreased their target price on shares of BlackRock from $825.00 to $718.00 in a report on Monday, July 11th. BMO Capital Markets decreased their target price on shares of BlackRock from $755.00 to $734.00 and set a “market perform” rating for the company in a report on Thursday, April 14th. Finally, The Goldman Sachs Group decreased their price target on shares of BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $794.08.

BlackRock Stock Down 0.0 %

BLK traded down $0.08 during midday trading on Friday, hitting $695.93. 549,028 shares of the company’s stock traded hands, compared to its average volume of 678,604. The company has a market cap of $105.43 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.65 and a beta of 1.25. The stock’s fifty day simple moving average is $633.39 and its 200-day simple moving average is $687.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.33 and a quick ratio of 4.33. BlackRock, Inc. has a one year low of $575.60 and a one year high of $973.16.

BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.53 billion. BlackRock had a net margin of 30.12% and a return on equity of 15.72%. BlackRock’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $10.03 EPS. As a group, equities analysts anticipate that BlackRock, Inc. will post 33.91 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be given a $4.88 dividend. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, September 6th. BlackRock’s dividend payout ratio is 51.46%.

BlackRock Profile

(Get Rating)

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.

Further Reading

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:BLKGet Rating).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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