Daymark Wealth Partners LLC Sells 98 Shares of BlackRock, Inc. (NYSE:BLK)

Daymark Wealth Partners LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 1.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,174 shares of the asset manager’s stock after selling 98 shares during the period. Daymark Wealth Partners LLC’s holdings in BlackRock were worth $8,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. IAG Wealth Partners LLC purchased a new stake in BlackRock during the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV purchased a new stake in BlackRock during the 4th quarter valued at $30,000. Collier Financial bought a new stake in BlackRock in the fourth quarter worth $32,000. Compass Planning Associates Inc purchased a new position in BlackRock during the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at $40,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BLK shares. Barclays upped their price target on shares of BlackRock from $950.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, April 14th. Bank of America reduced their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Wall Street Zen upgraded BlackRock to a “hold” rating in a report on Saturday, May 24th. TD Cowen dropped their price target on 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, UBS Group decreased their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,082.46.

BlackRock Stock Up 0.5%

NYSE:BLK opened at $990.26 on Monday. The company’s 50-day simple moving average is $925.28 and its 200-day simple moving average is $972.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $752.30 and a fifty-two week high of $1,084.22. The stock has a market capitalization of $153.42 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during 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%. BlackRock’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors 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 annualized dividend and a yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the sale, the director now owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

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.