Congress Park Capital LLC Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Congress Park Capital LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 35.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275 shares of the asset manager’s stock after selling 150 shares during the period. Congress Park Capital LLC’s holdings in BlackRock were worth $229,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock in the 4th quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in shares of BlackRock in the 4th quarter worth about $28,000. Pineridge Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA boosted its holdings in shares of BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in BlackRock during the 4th quarter valued at about $32,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BLK. Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group boosted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $845.42.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Trading Up 1.0 %

NYSE:BLK traded up $7.73 on Friday, reaching $788.86. 229,128 shares of the stock traded hands, compared to its average volume of 601,670. The firm has a market capitalization of $117.22 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.34. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $777.90 and its 200-day moving average is $792.50.

BlackRock (NYSE:BLK) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $7.93 EPS. Equities research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s payout ratio is 51.84%.

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.