Tritonpoint Wealth LLC Reduces Position in BlackRock $BLK

Tritonpoint Wealth LLC cut its position in shares of BlackRock (NYSE:BLK) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,319 shares of the asset manager’s stock after selling 83 shares during the period. Tritonpoint Wealth LLC’s holdings in BlackRock were worth $5,581,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fairway Wealth LLC boosted its position in BlackRock by 76.5% in the 1st quarter. Fairway Wealth LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after buying an additional 13 shares during the period. Game Plan Financial Advisors LLC grew its stake in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock worth $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. grew its stake in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock worth $28,000 after acquiring an additional 18 shares in the last quarter. Cheviot Value Management LLC bought a new position in BlackRock in the 1st quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC bought a new position in BlackRock in the 1st quarter worth about $31,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BLK shares. 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 research note on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $1,018.00 to $1,093.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. UBS Group reaffirmed a “neutral” rating and issued a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, July 8th. Finally, Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Tuesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

Insider Activity at BlackRock

In other news, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director owned 19,205 shares in the company, valued at $21,617,148. This 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, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the completion of the sale, the director owned 61,369 shares in the company, valued at $68,763,964.50. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,494 shares of company stock worth $74,694,573. 1.98% of the stock is owned by company insiders.

BlackRock Trading Up 0.9%

NYSE:BLK opened at $1,157.69 on Friday. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89. The firm has a 50 day moving average of $1,124.77 and a 200 day moving average of $1,020.52. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $179.27 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 2.21 and a beta of 1.45.

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

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were paid a dividend of $5.21 per share. The ex-dividend date 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%.

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.