BlackRock (NYSE:BLK) Shares Sold by Rossmore Private Capital

Rossmore Private Capital reduced its position in BlackRock (NYSE:BLK) by 1.1% in the 1st quarter, Holdings Channel reports. The fund owned 5,246 shares of the asset manager’s stock after selling 56 shares during the period. Rossmore Private Capital’s holdings in BlackRock were worth $4,965,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in BlackRock in the 4th quarter valued at $30,000. Fairway Wealth LLC raised its holdings in BlackRock by 76.5% in 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 during the last quarter. MorganRosel Wealth Management LLC acquired a new position in BlackRock in the 1st quarter valued at $31,000. Cheviot Value Management LLC acquired a new position in BlackRock in the 1st quarter valued at $30,000. Finally, CBIZ Investment Advisory Services LLC acquired a new position in BlackRock in the 1st quarter valued at $34,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In related 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 transaction of $20,301,321.60. Following the sale, the director owned 19,205 shares of the company’s stock, valued at $21,617,148. The trade was a 48.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of BlackRock stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the sale, the chief executive officer directly owned 263,751 shares in the company, valued at $296,002,472.28. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BLK shares. UBS Group reiterated a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Argus reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Telsey Advisory Group reiterated an “outperform” rating on shares of BlackRock in a report on Tuesday, July 8th. Finally, Bank of America lifted their price target on shares of BlackRock from $1,214.00 to $1,224.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,151.21.

BlackRock Stock Performance

Shares of BLK stock opened at $1,128.46 on Tuesday. The company’s fifty day simple moving average is $1,057.95 and its 200-day simple moving average is $985.88. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,133.07. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The company has a market cap of $174.83 billion, a PE ratio of 27.28, a P/E/G ratio of 2.26 and a beta of 1.42.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the firm posted $10.36 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) 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.