BlackRock $BLK Shares Sold by Promethium Advisors LLC

Promethium Advisors LLC trimmed its stake in shares of BlackRock (NYSE:BLK) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,995 shares of the asset manager’s stock after selling 163 shares during the quarter. BlackRock makes up 1.2% of Promethium Advisors LLC’s portfolio, making the stock its 29th biggest position. Promethium Advisors LLC’s holdings in BlackRock were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC grew its stake in BlackRock by 76.5% in the first quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Investment Management Corp VA ADV bought a new position in BlackRock during the fourth quarter worth $30,000. Cheviot Value Management LLC bought a new stake in BlackRock during the first quarter valued at $30,000. MorganRosel Wealth Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $31,000. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of BlackRock in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Price Performance

NYSE BLK opened at $1,128.45 on Tuesday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $174.74 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.16 and a beta of 1.45. The business’s fifty day moving average is $1,104.65 and its two-hundred day moving average is $998.85.

BlackRock (NYSE:BLK) last issued its earnings results on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping the consensus estimate of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $10.36 earnings per share. On average, research analysts forecast that BlackRock 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 Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s payout ratio is 50.39%.

Insiders Place Their Bets

In related news, 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 transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares in the company, valued at approximately $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the transaction, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,494 shares of company stock worth $74,694,573 over the last quarter. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. UBS Group reissued a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Telsey Advisory Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Argus reiterated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,151.21.

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.