Doliver Advisors LP Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Doliver Advisors LP trimmed its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 821 shares of the asset manager’s stock after selling 277 shares during the period. Doliver Advisors LP’s holdings in BlackRock were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Emerald Advisors LLC raised its holdings in shares of BlackRock by 2.5% during the fourth quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares during the last quarter. Carolinas Wealth Consulting LLC increased its holdings in BlackRock by 25.0% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after buying an additional 40 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in BlackRock by 8.5% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in BlackRock during the fourth quarter valued at approximately $439,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

BlackRock stock traded up $11.35 during mid-day trading on Monday, reaching $798.95. 525,605 shares of the company’s stock traded hands, compared to its average volume of 608,555. The company has a market cap of $118.72 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.62 and a beta of 1.34. The stock has a 50 day moving average of $776.33 and a two-hundred day moving average of $792.19. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company 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%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.93 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group upped their price target on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Three 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 an average rating of “Moderate Buy” and an average target price of $845.42.

View Our Latest Stock Analysis on BlackRock

About BlackRock

(Free Report)

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

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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