Blue Fin Capital Inc. Sells 22 Shares of BlackRock, Inc. (NYSE:BLK)

Blue Fin Capital Inc. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,127 shares of the asset manager’s stock after selling 22 shares during the quarter. BlackRock makes up 0.8% of Blue Fin Capital Inc.’s investment portfolio, making the stock its 23rd largest position. Blue Fin Capital Inc.’s holdings in BlackRock were worth $4,231,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new position in BlackRock in the 4th quarter valued at $26,000. Collier Financial bought a new position in BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock in the 4th quarter valued at about $33,000. Synergy Investment Management LLC bought a new stake in shares of BlackRock during the 4th quarter valued at about $40,000. Finally, Curio Wealth LLC bought a new position in shares of BlackRock in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 2.5%

BLK opened at $972.33 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The business has a 50 day simple moving average of $920.55 and a two-hundred day simple moving average of $978.19. The firm has a market capitalization of $150.64 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the company earned $9.81 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BLK. Wells Fargo & Company decreased their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. UBS Group decreased their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. StockNews.com assumed coverage on shares of BlackRock in a research report on Friday, May 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, TD Cowen lowered their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

Insider Activity

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 12,430 shares of company stock worth $11,237,249 over the last 90 days. 1.98% of the stock is currently owned by insiders.

BlackRock Profile

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.