CFO4Life Group LLC Sells 25 Shares of BlackRock, Inc. (NYSE:BLK)

CFO4Life Group LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,259 shares of the asset manager’s stock after selling 25 shares during the period. CFO4Life Group LLC’s holdings in BlackRock were worth $2,717,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. Tennessee Valley Asset Management Partners purchased a new stake in BlackRock in the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at $27,000. Private Wealth Management Group LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at $28,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at $28,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

NYSE BLK traded up $11.42 during trading hours on Friday, hitting $836.29. The company had a trading volume of 325,812 shares, compared to its average volume of 596,152. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The firm has a 50 day simple moving average of $786.04 and a 200 day simple moving average of $792.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The firm has a market capitalization of $124.27 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.68 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company earned $7.93 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 41.27 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.44%. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. Morgan Stanley decreased their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group decreased their target price on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $915.00 price target on shares of BlackRock in a research note on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $844.67.

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.