Douglas Lane & Associates LLC Has $446,000 Stake in BlackRock $BLK

Douglas Lane & Associates LLC decreased its stake in shares of BlackRock (NYSE:BLK) by 2.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 425 shares of the asset manager’s stock after selling 11 shares during the period. Douglas Lane & Associates LLC’s holdings in BlackRock were worth $446,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Securian Asset Management Inc. acquired a new stake in BlackRock in the 1st quarter worth $7,331,000. Prudent Man Advisors LLC acquired a new position in BlackRock in the first quarter valued at about $2,018,000. Allianz SE raised its stake in shares of BlackRock by 2.6% in the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after acquiring an additional 277 shares during the last quarter. Arizona State Retirement System bought a new position in shares of BlackRock in the first quarter worth about $40,868,000. Finally, Community Financial Services Group LLC raised its stake in shares of BlackRock by 17.2% in the first quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock worth $5,397,000 after acquiring an additional 836 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent research reports. Barclays boosted their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Morgan Stanley reduced their price target on shares of BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. UBS Group reiterated a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of BlackRock to a “hold” rating in a report on Saturday, May 24th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,154.07.

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 14,828 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $1,122.28, for a total transaction of $16,641,167.84. Following the sale, the chief executive officer owned 263,751 shares in the company, valued at $296,002,472.28. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 in the last three months. 1.98% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,124.34 on Monday. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,171.89. The firm has a fifty day simple moving average of $1,115.88 and a 200 day simple moving average of $1,007.82. The stock has a market capitalization of $174.10 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.15 and a beta of 1.45. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. BlackRock had a net margin of 29.68% and a return on equity of 15.53%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm posted $10.36 earnings per share. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

BlackRock Company 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.