BlackRock, Inc. (NYSE:BLK) Shares Sold by Northeast Investment Management

Northeast Investment Management lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,696 shares of the asset manager’s stock after selling 357 shares during the quarter. Northeast Investment Management’s holdings in BlackRock were worth $13,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new position in shares of BlackRock during the first quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new position in BlackRock in the 4th quarter valued at $28,000. Northwest Financial Advisors purchased a new position in BlackRock in the 4th quarter valued at $32,000. Finally, Knuff & Co LLC grew its position in BlackRock by 48.1% in the 4th quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction dated 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 owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,042 shares of company stock valued at $68,587,117. 0.90% of the stock is owned by insiders.

BlackRock Price Performance

Shares of NYSE:BLK traded up $2.53 during midday trading on Wednesday, hitting $888.66. 439,957 shares of the stock were exchanged, compared to its average volume of 591,828. The stock has a market cap of $132.05 billion, a P/E ratio of 22.58, a PEG ratio of 1.92 and a beta of 1.32. 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 twelve month low of $596.18 and a twelve month high of $895.44. The company has a 50 day moving average price of $832.57 and a 200-day moving average price of $806.64.

BlackRock (NYSE:BLK) last released 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 return on equity of 15.53% and a net margin of 32.36%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $9.28 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 41.23 earnings per share for the current year.

BlackRock Dividend Announcement

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 paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, September 9th. BlackRock’s payout ratio is 51.84%.

Analyst Ratings Changes

A number of research firms recently weighed in on BLK. Barclays began coverage on shares of BlackRock in a research report on Tuesday. They issued an “overweight” rating and a $985.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. UBS Group decreased their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Argus boosted their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $881.47.

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.