BlackRock (NYSE:BLK) Shares Sold by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC reduced its stake in BlackRock (NYSE:BLK) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,494 shares of the asset manager’s stock after selling 50 shares during the period. Genesee Capital Advisors LLC’s holdings in BlackRock were worth $1,414,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legacy Capital Group California Inc. increased its holdings in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after purchasing an additional 10 shares in the last quarter. Mascoma Wealth Management LLC increased its holdings in BlackRock by 9.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock valued at $130,000 after purchasing an additional 11 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager’s stock valued at $542,000 after purchasing an additional 11 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in BlackRock by 4.5% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 11 shares in the last quarter. Finally, Convergence Financial LLC increased its holdings in BlackRock by 1.6% in the 4th quarter. Convergence Financial LLC now owns 783 shares of the asset manager’s stock valued at $802,000 after purchasing an additional 12 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BLK stock opened at $974.60 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.34 and a current ratio of 4.34. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The company’s 50-day simple moving average is $948.55 and its 200-day simple moving average is $969.93. The stock has a market capitalization of $150.99 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.96 and a beta of 1.41.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter last year, the company posted $9.81 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a dividend of $5.21 per share. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. BlackRock’s payout ratio is 50.63%.

Insider Transactions 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 shares were sold at an average price of $852.01, for a total value of $1,704,020.00. Following the transaction, the director now owns 66,034 shares of the company’s stock, valued at $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 SEC, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen upgraded BlackRock to a “hold” rating in a report on Saturday, May 24th. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Argus upped their price objective on shares of BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,035.00 to $1,105.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,096.31.

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.