Compagnie Lombard Odier SCmA Sells 1,013 Shares of BlackRock, Inc. (NYSE:BLK)

Compagnie Lombard Odier SCmA reduced its stake in BlackRock, Inc. (NYSE:BLK) by 2.7% during the 1st quarter, HoldingsChannel reports. The firm owned 36,455 shares of the asset manager’s stock after selling 1,013 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in BlackRock were worth $34,504,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock worth $13,712,493,000 after purchasing an additional 68,405 shares in the last quarter. Capital World Investors increased its holdings in shares of BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock worth $4,200,450,000 after buying an additional 93,844 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BlackRock by 104,598.9% in the first quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock worth $3,072,787,000 after acquiring an additional 190,188 shares in the last quarter. Finally, FMR LLC grew its position in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total value of $9,125,000.00. Following the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. This trade represents a 13.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $993.30 on Thursday. The stock’s fifty day simple moving average is $931.30 and its 200 day simple moving average is $972.72. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $153.89 billion, a PE ratio of 23.65, a PEG ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 12 month low of $758.20 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the prior year, the company earned $9.81 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio is 50.63%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup reduced their price objective on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays raised their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company raised their price target on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, Wall Street Zen raised BlackRock to a “hold” rating in a report on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,082.46.

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.