FCG Investment Co Has $997,000 Holdings in BlackRock $BLK

FCG Investment Co trimmed its stake in shares of BlackRock (NYSE:BLK) by 30.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 950 shares of the asset manager’s stock after selling 421 shares during the period. FCG Investment Co’s holdings in BlackRock were worth $997,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. 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 last quarter. Game Plan Financial Advisors LLC lifted its stake 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 acquiring an additional 15 shares during the period. Garde Capital Inc. boosted its holdings in BlackRock by 200.0% in the second quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in BlackRock in the first quarter worth about $30,000. Finally, MorganRosel Wealth Management LLC bought a new stake in BlackRock during the 1st quarter worth about $31,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group reiterated a “neutral” rating and set a $980.00 price target on shares of BlackRock in a research report on Tuesday, July 8th. Bank of America lifted their target price on shares of BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Morgan Stanley cut their price target on BlackRock from $1,247.00 to $1,224.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company decreased their price objective on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating for the company in a research note on Wednesday, July 16th. Finally, Barclays upped their price objective on BlackRock from $990.00 to $1,220.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,154.07.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction dated 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 transaction, the director owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel Lord sold 18,036 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 19,205 shares in the company, valued at approximately $21,617,148. This trade represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,494 shares of company stock valued at $74,694,573 in the last quarter. 1.98% of the stock is currently owned by company insiders.

BlackRock Stock Up 1.6%

Shares of BlackRock stock opened at $1,146.33 on Friday. The company has a market capitalization of $177.51 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 2.16 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. The business has a 50-day moving average of $1,123.70 and a two-hundred day moving average of $1,018.07. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,171.89.

BlackRock (NYSE:BLK) last issued 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. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.BlackRock’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.36 EPS. As a group, equities analysts predict that BlackRock will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 5th. BlackRock’s payout ratio is currently 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.