Federated Hermes Inc. Has $81.53 Million Stake in BlackRock, Inc. (NYSE:BLK)

Federated Hermes Inc. trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 15.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,552 shares of the asset manager’s stock after selling 19,388 shares during the period. Federated Hermes Inc. owned about 0.07% of BlackRock worth $81,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in BlackRock by 4.8% during the 4th quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after acquiring an additional 62 shares during the period. Gryphon Financial Partners LLC acquired a new stake in BlackRock during the 4th quarter worth about $354,000. Foundations Investment Advisors LLC grew its holdings in BlackRock by 4.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 938 shares of the asset manager’s stock worth $737,000 after acquiring an additional 43 shares during the period. Private Wealth Management Group LLC acquired a new stake in BlackRock during the 4th quarter worth about $28,000. Finally, New Century Financial Group LLC acquired a new stake in BlackRock during the 4th quarter worth about $210,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.1 %

Shares of BLK stock opened at $885.73 on Friday. The company has a 50 day moving average of $857.98 and a 200-day moving average of $814.37. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $903.46. The firm has a market cap of $131.20 billion, a P/E ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.28 EPS. Sell-side analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. UBS Group cut their price objective 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. Wells Fargo & Company initiated coverage on shares of BlackRock in a research report on Thursday. They set an “overweight” rating and a $1,000.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays raised their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.13.

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on 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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.90% of the company’s stock.

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.