Interchange Capital Partners LLC Trims Position in BlackRock, Inc. (NYSE:BLK)

Interchange Capital Partners LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 14.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474 shares of the asset manager’s stock after selling 77 shares during the quarter. Interchange Capital Partners LLC’s holdings in BlackRock were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC boosted its stake in shares of BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares in the last quarter. Zhang Financial LLC grew its holdings in shares of BlackRock by 24.0% during the 1st quarter. Zhang Financial LLC now owns 883 shares of the asset manager’s stock worth $736,000 after acquiring an additional 171 shares during the period. California State Teachers Retirement System raised its position in shares of BlackRock by 0.7% in the 4th quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after acquiring an additional 1,647 shares in the last quarter. Farrow Financial Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $2,228,000. Finally, Axxcess Wealth Management LLC boosted its position in shares of BlackRock by 35.8% during the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock valued at $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal 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 on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of 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. Over the last quarter, insiders sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BlackRock stock traded up $6.94 during midday trading on Friday, reaching $901.81. 478,238 shares of the company traded hands, compared to its average volume of 473,496. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $903.46. The firm has a market capitalization of $133.59 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.97 and a beta of 1.32. The business has a 50 day moving average of $839.20 and a two-hundred day moving average of $808.74.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share 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 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the business earned $9.28 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The business 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. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.26%. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BLK shares. Keefe, Bruyette & Woods increased their price objective on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a 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 for the company in a research note on Wednesday, July 10th. Barclays started coverage on BlackRock in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $985.00 price target on the stock. Morgan Stanley lowered their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Citigroup lifted their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target 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.