TigerOak Management L.L.C. Sells 32 Shares of BlackRock (NYSE:BLK)

TigerOak Management L.L.C. trimmed its holdings in BlackRock (NYSE:BLK) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,739 shares of the asset manager’s stock after selling 32 shares during the period. BlackRock comprises about 0.6% of TigerOak Management L.L.C.’s holdings, making the stock its 28th largest position. TigerOak Management L.L.C.’s holdings in BlackRock were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after purchasing an additional 578 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BlackRock by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after buying an additional 4,210 shares during the last quarter. Polar Capital Holdings Plc bought a new stake in BlackRock during the fourth quarter worth $15,307,000. Community Financial Services Group LLC lifted its stake in BlackRock by 17.2% during the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after acquiring an additional 836 shares in the last quarter. Finally, Kennedy Investment Group purchased a new position in BlackRock during the 1st quarter worth $568,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction on 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 transaction, the director now directly owns 66,034 shares in the company, valued at approximately $56,261,628.34. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock Stock Up 1.4%

Shares of NYSE BLK opened at $1,019.43 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market capitalization of $157.94 billion, a PE ratio of 24.77, a P/E/G ratio of 3.05 and a beta of 1.41. BlackRock has a one year low of $773.74 and a one year high of $1,084.22. The business’s fifty day moving average price is $955.81 and its 200-day moving average price is $969.60.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 30.09% and a return on equity of 15.57%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.81 earnings per share. On average, equities research analysts anticipate that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Thursday, June 5th were paid a $5.21 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a yield of 2.04%. BlackRock’s dividend payout ratio is 50.63%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BLK. Citigroup dropped their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Bank of America cut their price objective on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock 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.