Tritonpoint Wealth LLC Trims Stake in BlackRock $BLK

Tritonpoint Wealth LLC lowered its stake in shares of BlackRock (NYSE:BLK) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,319 shares of the asset manager’s stock after selling 83 shares during the quarter. Tritonpoint Wealth LLC’s holdings in BlackRock were worth $5,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BLK. Royal Bank of Canada grew its holdings in shares of BlackRock by 73.2% during the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BlackRock by 2.9% during the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Unisphere Establishment grew its holdings in shares of BlackRock by 29.2% during the first quarter. Unisphere Establishment now owns 839,500 shares of the asset manager’s stock valued at $794,570,000 after buying an additional 189,500 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of BlackRock by 58.8% during the first quarter. Alliancebernstein L.P. now owns 381,447 shares of the asset manager’s stock valued at $361,032,000 after buying an additional 141,258 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director Fabrizio Freda sold 4,434 shares of BlackRock stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $1,122.81, for a total value of $4,978,539.54. Following the sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. The trade was a 55.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 12,054 shares of BlackRock stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.43, for a total transaction of $13,565,933.22. Following the completion of the sale, the chief executive officer owned 251,697 shares in the company, valued at approximately $283,267,354.71. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is currently owned by insiders.

BlackRock Stock Up 0.9%

Shares of BLK stock opened at $1,157.69 on Friday. The company has a market capitalization of $179.27 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 2.21 and a beta of 1.45. BlackRock has a one year low of $773.74 and a one year high of $1,171.89. The company’s fifty day moving average price is $1,124.77 and its 200-day moving average price is $1,020.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last announced 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 firm 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 15.53%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $10.36 EPS. Sell-side analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Barclays lifted their price objective on BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Bank of America lifted their price objective on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Argus reaffirmed a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,154.07.

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.