Nemes Rush Group LLC Has $223,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Nemes Rush Group LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 20.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 275 shares of the asset manager’s stock after selling 70 shares during the quarter. Nemes Rush Group LLC’s holdings in BlackRock were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners acquired a new position in BlackRock during the fourth quarter worth $27,000. Private Wealth Management Group LLC acquired a new position in BlackRock during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA boosted its holdings in 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 purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the fourth quarter worth $32,000. Finally, Knuff & Co LLC boosted its holdings in BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK traded down $2.73 during mid-day trading on Wednesday, reaching $802.20. 97,320 shares of the company’s stock were exchanged, compared to its average volume of 605,563. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The firm has a market capitalization of $119.21 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The business’s fifty day simple moving average is $791.40 and its two-hundred day simple moving average is $781.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. 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 company posted $7.93 earnings per share. Analysts anticipate that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $20.40 dividend on an annualized basis and a yield of 2.54%. BlackRock’s payout ratio is 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction that occurred on 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 sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. Insiders have sold 76,037 shares of company stock worth $61,743,127 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of several recent research reports. UBS Group increased their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Morgan Stanley increased their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

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.