Keeler Thomas Management LLC Has $2.84 Million Stake in BlackRock (NYSE:BLK)

Keeler Thomas Management LLC cut its stake in BlackRock (NYSE:BLK) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,996 shares of the asset manager’s stock after selling 2,505 shares during the quarter. BlackRock accounts for about 1.4% of Keeler Thomas Management LLC’s portfolio, making the stock its 21st biggest position. Keeler Thomas Management LLC’s holdings in BlackRock were worth $2,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of BLK. Fairway Wealth LLC lifted its stake in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 13 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of BlackRock in the fourth quarter valued at about $30,000. Cheviot Value Management LLC bought a new position in shares of BlackRock during the first quarter valued at about $30,000. MorganRosel Wealth Management LLC bought a new position in shares of BlackRock during the first quarter valued at about $31,000. Finally, CBIZ Investment Advisory Services LLC purchased a new position in BlackRock during the first quarter worth about $34,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the transaction, the director directly owned 61,369 shares of the company’s stock, valued at $68,763,964.50. The trade was a 21.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BLK shares. Wells Fargo & Company decreased their price objective on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. TD Cowen decreased their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Argus reissued a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Morgan Stanley reduced their price objective on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group reiterated a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,151.21.

BlackRock Stock Up 1.0%

Shares of NYSE BLK opened at $1,120.47 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market capitalization of $173.59 billion, a PE ratio of 27.09, a P/E/G ratio of 2.23 and a beta of 1.42. BlackRock has a one year low of $773.74 and a one year high of $1,130.66. The business’s fifty day moving average price is $1,049.25 and its 200-day moving average price is $983.96.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a net margin of 29.68% and a return on equity of 15.83%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.36 earnings per share. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 5th. BlackRock’s payout ratio is currently 50.39%.

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.