Sivia Capital Partners LLC Lowers Stock Holdings in BlackRock $BLK

Sivia Capital Partners LLC lessened its holdings in BlackRock (NYSE:BLK) by 17.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 366 shares of the asset manager’s stock after selling 75 shares during the period. Sivia Capital Partners LLC’s holdings in BlackRock were worth $384,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fairway Wealth LLC raised its stake in shares of BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares during the last quarter. Garde Capital Inc. raised its stake in BlackRock by 200.0% during the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of BlackRock during the 4th quarter worth approximately $30,000. Finally, Cheviot Value Management LLC purchased a new position in BlackRock in the first quarter valued at about $30,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 1.1%

Shares of NYSE BLK opened at $1,131.20 on Thursday. The firm’s 50-day moving average price is $1,118.35 and its 200-day moving average price is $1,010.36. The stock has a market capitalization of $175.17 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 2.14 and a beta of 1.45. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,171.89. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share 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 return on equity of 15.53% and a net margin of 29.68%.The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.36 EPS. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s dividend payout ratio is 50.39%.

Insider Activity

In other BlackRock news, Director Rachel Lord sold 18,036 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the transaction, the director owned 19,205 shares in the company, valued at $21,617,148. This trade represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents 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 quarter. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of several recent analyst reports. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. The Goldman Sachs Group restated a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Evercore ISI raised their price objective on shares of BlackRock from $1,170.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Argus restated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Barclays boosted their target price on BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Company 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.