Evermay Wealth Management LLC Sells 38 Shares of BlackRock (NYSE:BLK)

Evermay Wealth Management LLC lessened its holdings in BlackRock (NYSE:BLK) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331 shares of the asset manager’s stock after selling 38 shares during the quarter. Evermay Wealth Management LLC’s holdings in BlackRock were worth $313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Securian Asset Management Inc. acquired a new stake in shares of BlackRock in the 1st quarter valued at $7,331,000. Prudent Man Advisors LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $2,018,000. Arizona State Retirement System acquired a new stake in shares of BlackRock in the 1st quarter valued at $40,868,000. Polar Capital Holdings Plc acquired a new stake in shares of BlackRock in the 4th quarter valued at $15,307,000. Finally, Community Financial Services Group LLC boosted its stake in shares of BlackRock by 17.2% in the 1st quarter. Community Financial Services Group LLC now owns 5,702 shares of the asset manager’s stock valued at $5,397,000 after purchasing an additional 836 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the completion of the sale, the director directly owned 3,506 shares of the company’s stock, valued at approximately $3,936,571.86. This represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 12,054 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $1,125.43, for a total value of $13,565,933.22. Following the sale, the chief executive officer directly owned 251,697 shares of the company’s stock, valued at approximately $283,267,354.71. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,352 shares of company stock valued at $55,486,962. 1.98% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,123.48 on Monday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $174.06 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.27 and a beta of 1.41. The business has a 50-day moving average price of $1,027.64 and a two-hundred day moving average price of $976.67. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,130.66.

BlackRock (NYSE:BLK) last announced its quarterly 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. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. BlackRock’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.36 EPS. Equities analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, September 5th. This represents a $20.84 dividend on an annualized basis and a yield of 1.85%. BlackRock’s payout ratio is 50.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BLK shares. Argus restated a “buy” rating on shares of BlackRock in a research note on Tuesday, July 8th. Jefferies Financial Group upped their price target on shares of BlackRock from $959.00 to $1,210.00 in a research report on Thursday, July 10th. Wells Fargo & Company reduced their price target on shares of BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research 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 on the stock in a research report on Wednesday, July 16th. Finally, Barclays upped their price target on shares of BlackRock from $990.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,151.21.

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.