Mission Wealth Management LP Sells 134 Shares of BlackRock, Inc. (NYSE:BLK)

Mission Wealth Management LP reduced its position in BlackRock, Inc. (NYSE:BLK) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,840 shares of the asset manager’s stock after selling 134 shares during the period. Mission Wealth Management LP’s holdings in BlackRock were worth $9,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the fourth quarter valued at about $30,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock during the fourth quarter valued at about $33,000. Synergy Investment Management LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $40,000. Finally, Curio Wealth LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $41,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BLK. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays upped their price objective on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. TD Cowen decreased their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,082.46.

BlackRock Stock Down 1.7%

Shares of BLK opened at $971.24 on Monday. The firm has a market cap of $150.47 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.90 and a beta of 1.41. The stock has a 50 day simple moving average of $937.84 and a two-hundred day simple moving average of $971.37. 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 1 year low of $766.05 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK) last released 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. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.81 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock’s dividend payout ratio (DPR) is presently 50.63%.

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.