First Pacific Financial Sells 62 Shares of BlackRock $BLK

First Pacific Financial lessened its stake in shares of BlackRock (NYSE:BLK) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 997 shares of the asset manager’s stock after selling 62 shares during the quarter. First Pacific Financial’s holdings in BlackRock were worth $1,046,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Marino Stram & Associates LLC boosted its stake in shares of BlackRock by 4.1% during the 2nd quarter. Marino Stram & Associates LLC now owns 3,571 shares of the asset manager’s stock worth $3,747,000 after purchasing an additional 142 shares during the period. Community Bank & Trust Waco Texas raised its position in shares of BlackRock by 1.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 2,222 shares of the asset manager’s stock worth $2,331,000 after acquiring an additional 28 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of BlackRock by 30.9% during the second quarter. Childress Capital Advisors LLC now owns 335 shares of the asset manager’s stock worth $352,000 after buying an additional 79 shares during the period. PFG Investments LLC increased its stake in shares of BlackRock by 12.9% during the second quarter. PFG Investments LLC now owns 770 shares of the asset manager’s stock worth $808,000 after acquiring an additional 88 shares during the period. Finally, Liberty Capital Management Inc. lifted its holdings in BlackRock by 14.8% in the second quarter. Liberty Capital Management Inc. now owns 2,722 shares of the asset manager’s stock valued at $2,856,000 after acquiring an additional 350 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of several analyst reports. Citigroup upped their target price on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped their price target on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company dropped 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 research report on Wednesday, July 16th. The Goldman Sachs Group restated a “buy” rating and issued a $1,115.00 price objective on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Morgan Stanley lowered their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a research report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,171.93.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,166.35 on Wednesday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,183.50. The business has a fifty day moving average price of $1,127.65 and a 200-day moving average price of $1,024.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market capitalization of $180.61 billion, a PE ratio of 28.20, a PEG ratio of 2.25 and a beta of 1.45.

BlackRock (NYSE:BLK) last issued 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 net margin of 29.68% and a return on equity of 15.53%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.36 earnings per share. As a group, equities analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 17,142 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fabrizio Freda sold 4,434 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at $3,936,571.86. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,494 shares of company stock worth $74,694,573 over the last three months. 1.98% of the stock is owned by corporate insiders.

BlackRock 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.