Jaffetilchin Investment Partners LLC Has $909,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Jaffetilchin Investment Partners LLC cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,090 shares of the asset manager’s stock after selling 36 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in BlackRock were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Knuff & Co LLC boosted its holdings in shares of BlackRock by 48.1% during the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after acquiring an additional 13 shares during the period. Magellan Asset Management Ltd boosted its holdings in shares of BlackRock by 3.6% during the fourth quarter. Magellan Asset Management Ltd now owns 404 shares of the asset manager’s stock worth $328,000 after acquiring an additional 14 shares during the period. Accurate Wealth Management LLC boosted its stake in shares of BlackRock by 1.4% in the first quarter. Accurate Wealth Management LLC now owns 1,007 shares of the asset manager’s stock valued at $840,000 after buying an additional 14 shares during the period. Emerald Advisors LLC boosted its stake in shares of BlackRock by 1.3% in the first quarter. Emerald Advisors LLC now owns 1,062 shares of the asset manager’s stock valued at $885,000 after buying an additional 14 shares during the period. Finally, MONECO Advisors LLC boosted its stake in shares of BlackRock by 5.6% in the first quarter. MONECO Advisors LLC now owns 264 shares of the asset manager’s stock valued at $220,000 after buying an additional 14 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Argus increased their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $872.29.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction 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 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 can be accessed through the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction on Friday, May 10th. The shares were 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 directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock 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 sale, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,978 shares of company stock worth $54,692,570. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock traded down $11.88 during trading hours on Thursday, hitting $864.62. 459,402 shares of the company were exchanged, compared to its average volume of 605,886. The firm has a fifty day simple moving average of $799.92 and a 200 day simple moving average of $797.24. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $885.10. The stock has a market capitalization of $128.48 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.94 and a beta of 1.32.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.53%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 41.23 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.36%. BlackRock’s dividend payout ratio is 51.84%.

About BlackRock

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.