First Pacific Financial Sells 62 Shares of BlackRock $BLK

First Pacific Financial lowered its stake in shares of BlackRock (NYSE:BLK) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 997 shares of the asset manager’s stock after selling 62 shares during the quarter. First Pacific Financial’s holdings in BlackRock were worth $1,046,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BLK. Brighton Jones LLC grew its stake in BlackRock by 23.1% in the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after purchasing an additional 296 shares in the last quarter. Bison Wealth LLC grew its stake in shares of BlackRock by 1.6% in the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the last quarter. NBC Securities Inc. increased its holdings in BlackRock by 145,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,456 shares of the asset manager’s stock worth $1,378,000 after purchasing an additional 1,455 shares in the last quarter. Baxter Bros Inc. lifted its position in shares of BlackRock by 107.2% during the first quarter. Baxter Bros Inc. now owns 2,327 shares of the asset manager’s stock valued at $2,202,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of BlackRock by 2.9% in the 1st quarter. Merit Financial Group LLC now owns 13,046 shares of the asset manager’s stock worth $12,348,000 after purchasing an additional 370 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,166.35 on Wednesday. The firm’s 50 day moving average price is $1,127.65 and its 200-day moving average price is $1,024.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a one year low of $773.74 and a one year high of $1,183.50. The firm has a market cap of $180.61 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.25 and a beta of 1.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (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 analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $10.36 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed 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 dividend yield of 1.8%. BlackRock’s dividend payout ratio (DPR) is presently 50.39%.

Insiders Place Their Bets

In related news, CEO Laurence Fink sold 14,828 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $1,122.28, for a total value of $16,641,167.84. Following the sale, the chief executive officer directly owned 263,751 shares of the company’s stock, valued at approximately $296,002,472.28. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 17,142 shares of BlackRock stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $1,120.50, for a total transaction of $19,207,611.00. Following the transaction, 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 valued at $74,694,573. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on BlackRock from $1,018.00 to $1,093.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Citigroup boosted their price target on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Research lowered BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,115.00 price objective on shares of BlackRock in a report 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,171.93.

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.