BlackRock, Inc. (NYSE:BLK) Shares Sold by World Asset Management Inc

World Asset Management Inc cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the asset manager’s stock after selling 156 shares during the period. World Asset Management Inc’s holdings in BlackRock were worth $2,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Marcum Wealth LLC grew its holdings in shares of BlackRock by 16.0% in the second quarter. Marcum Wealth LLC now owns 566 shares of the asset manager’s stock valued at $495,000 after purchasing an additional 78 shares in the last quarter. National Asset Management Inc. grew its holdings in shares of BlackRock by 21.0% in the second quarter. National Asset Management Inc. now owns 3,865 shares of the asset manager’s stock valued at $3,368,000 after purchasing an additional 671 shares in the last quarter. Midwest Professional Planners LTD. grew its holdings in shares of BlackRock by 9.3% in the second quarter. Midwest Professional Planners LTD. now owns 1,510 shares of the asset manager’s stock valued at $1,321,000 after purchasing an additional 129 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of BlackRock by 4.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,478 shares of the asset manager’s stock valued at $4,793,000 after purchasing an additional 214 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of BlackRock by 12.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,963 shares of the asset manager’s stock valued at $19,217,000 after purchasing an additional 2,512 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

Shares of NYSE:BLK traded up $4.31 during trading on Wednesday, hitting $906.26. 3,888 shares of the company were exchanged, compared to its average volume of 579,376. The stock has a market capitalization of $137.93 billion, a P/E ratio of 25.42, a PEG ratio of 2.40 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. BlackRock, Inc. has a 12-month low of $531.39 and a 12-month high of $959.89. The firm’s 50 day moving average price is $904.21 and its 200-day moving average price is $847.00.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, beating the consensus estimate of $9.33 by $0.70. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the prior year, the firm earned $7.85 EPS. BlackRock’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock, Inc. will post 38.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th will be given a $4.13 dividend. The ex-dividend date is Friday, September 3rd. This represents a $16.52 annualized dividend and a yield of 1.82%. BlackRock’s dividend payout ratio (DPR) is 48.85%.

A number of brokerages recently weighed in on BLK. Credit Suisse Group dropped their price objective on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Evercore ISI reiterated a “buy” rating on shares of BlackRock in a research note on Sunday, June 6th. Jefferies Financial Group lifted their price target on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Morgan Stanley lifted their price target on shares of BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating for the company in a research note on Thursday, July 15th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $953.31.

In other BlackRock news, Director Mark Wiedman sold 175 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $884.50, for a total value of $154,787.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The disclosure for this sale can be found here. 1.16% of the stock is owned by corporate insiders.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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