Impact Capital Partners LLC Sells 66 Shares of BlackRock, Inc. (NYSE:BLK)

Impact Capital Partners LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,706 shares of the asset manager’s stock after selling 66 shares during the quarter. BlackRock accounts for 0.9% of Impact Capital Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Impact Capital Partners LLC’s holdings in BlackRock were worth $2,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of BlackRock by 1.7% in the fourth quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after purchasing an additional 489 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after purchasing an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after purchasing an additional 4,210 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of BlackRock in the fourth quarter valued at $15,307,000. Finally, Alberta Investment Management Corp increased its holdings in shares of BlackRock by 242.3% in the fourth quarter. Alberta Investment Management Corp now owns 21,905 shares of the asset manager’s stock valued at $22,455,000 after purchasing an additional 15,505 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLK has been the topic of several research reports. Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. UBS Group decreased their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. TD Cowen decreased their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,082.46.

BlackRock Trading Up 0.5%

Shares of BlackRock stock opened at $990.26 on Friday. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The firm’s 50-day moving average price is $925.28 and its two-hundred day moving average price is $973.54.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company 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 Dividend Announcement

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

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.