Edmond DE Rothschild Holding S.A. Reduces Stock Position in BlackRock, Inc. (NYSE:BLK)

Edmond DE Rothschild Holding S.A. reduced its holdings in BlackRock, Inc. (NYSE:BLKFree Report) by 40.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,122 shares of the asset manager’s stock after selling 2,159 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in BlackRock were worth $2,534,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd purchased a new stake in BlackRock during the 4th quarter valued at about $734,000. Evermay Wealth Management LLC grew its holdings in shares of BlackRock by 6.9% in the fourth quarter. Evermay Wealth Management LLC now owns 450 shares of the asset manager’s stock worth $365,000 after purchasing an additional 29 shares during the last quarter. Founders Financial Alliance LLC raised its holdings in BlackRock by 5.1% during the 4th quarter. Founders Financial Alliance LLC now owns 519 shares of the asset manager’s stock valued at $421,000 after buying an additional 25 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in BlackRock by 1.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 75,500 shares of the asset manager’s stock valued at $61,291,000 after buying an additional 1,396 shares during the period. Finally, Nixon Peabody Trust Co. increased its position in shares of BlackRock by 523.8% in the fourth quarter. Nixon Peabody Trust Co. now owns 11,858 shares of the asset manager’s stock valued at $9,626,000 after acquiring an additional 9,957 shares during the period. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $930.00 price target (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $845.42.

View Our Latest Stock Analysis on BLK

BlackRock Stock Performance

Shares of BLK traded down $7.75 during mid-day trading on Wednesday, hitting $763.66. 58,444 shares of the company’s stock were exchanged, compared to its average volume of 600,931. The firm has a market capitalization of $113.48 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.61 and a beta of 1.37. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The business’s 50 day moving average is $788.98 and its two-hundred day moving average is $785.92. 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 (NYSE:BLKGet Free Report) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.93 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, June 7th. BlackRock’s payout ratio is 51.84%.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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