Legacy Trust Sells 169 Shares of BlackRock $BLK

Legacy Trust decreased its holdings in shares of BlackRock (NYSE:BLK) by 21.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 611 shares of the asset manager’s stock after selling 169 shares during the quarter. Legacy Trust’s holdings in BlackRock were worth $641,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BLK. Fairway Wealth LLC raised its holdings 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 acquiring an additional 13 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in BlackRock by 100.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 15 shares in the last quarter. Garde Capital Inc. raised its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares in the last quarter. Cheviot Value Management LLC acquired a new position in BlackRock in the 1st quarter valued at approximately $30,000. Finally, MorganRosel Wealth Management LLC acquired a new position in BlackRock in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a report on Saturday, September 27th. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Argus reissued a “buy” rating on shares of BlackRock in a report on Tuesday, July 8th. Citigroup raised their target price on BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,213.67.

BlackRock Trading Up 0.0%

BLK stock opened at $1,160.75 on Friday. The business has a fifty day moving average price of $1,129.67 and a 200 day moving average price of $1,028.18. BlackRock has a fifty-two week low of $773.74 and a fifty-two week high of $1,183.50. The stock has a market capitalization of $179.74 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share for the quarter, beating analysts’ consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm posted $10.36 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Analysts expect that BlackRock will post 47.41 EPS for the current fiscal 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 issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s dividend payout ratio (DPR) is currently 50.39%.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 18,036 shares of the firm’s stock in a transaction on 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 $21,617,148. This trade represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,494 shares of company stock valued at $74,694,573. Company insiders own 1.98% of the company’s stock.

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.