NBW Capital LLC Sells 57 Shares of BlackRock, Inc. (NYSE:BLK)

NBW Capital LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 16.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286 shares of the asset manager’s stock after selling 57 shares during the quarter. NBW Capital LLC’s holdings in BlackRock were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Patten & Patten Inc. TN purchased a new stake in shares of BlackRock in the fourth quarter worth $205,000. Colonial River Wealth Management LLC bought a new stake in BlackRock during the 4th quarter valued at about $219,000. Heartland Bank & Trust Co purchased a new position in BlackRock in the fourth quarter worth about $202,000. Trust Point Inc. bought a new position in shares of BlackRock in the fourth quarter worth approximately $913,000. Finally, Ballentine Partners LLC grew its holdings in shares of BlackRock by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 3,432 shares of the asset manager’s stock valued at $2,786,000 after buying an additional 105 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,978 shares of company stock worth $54,692,570. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BLK traded down $19.33 during trading on Friday, hitting $846.02. The company’s stock had a trading volume of 479,910 shares, compared to its average volume of 644,219. BlackRock, Inc. has a one year low of $596.18 and a one year high of $885.10. The business’s 50 day simple moving average is $802.82 and its 200-day simple moving average is $798.08. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $125.72 billion, a PE ratio of 21.50, a P/E/G ratio of 1.92 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.53% and a net margin of 32.36%. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm earned $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.23 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio is 51.84%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Citigroup upped their price target on BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on BlackRock from $924.00 to $912.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Argus upped their target price on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI lifted their price target on shares of BlackRock from $910.00 to $920.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $872.29.

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.