Financial Management Professionals Inc. Sells 22 Shares of BlackRock $BLK

Financial Management Professionals Inc. lowered its position in shares of BlackRock (NYSE:BLK) by 4.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 429 shares of the asset manager’s stock after selling 22 shares during the quarter. Financial Management Professionals Inc.’s holdings in BlackRock were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BLK. Fairway Wealth LLC boosted its stake in BlackRock by 76.5% during the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 13 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in shares of BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. Garde Capital Inc. boosted its position in shares of BlackRock by 200.0% during the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after buying an additional 18 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of BlackRock during the first quarter valued at $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in BlackRock in the 1st quarter worth about $31,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 17,142 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $1,125.60, for a total transaction of $20,301,321.60. Following the completion of the sale, the director directly owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. The trade was 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 three months. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BLK has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and set a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Barclays boosted their price objective on shares of BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Price Performance

NYSE BLK opened at $1,131.86 on Wednesday. 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 has a 12 month low of $773.74 and a 12 month high of $1,171.89. The stock has a market cap of $175.27 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.17 and a beta of 1.45. The company’s 50 day moving average is $1,121.97 and its two-hundred day moving average is $1,015.69.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, beating the consensus estimate of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the business earned $10.36 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. BlackRock’s dividend payout ratio is presently 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.