BlackRock, Inc. (NYSE:BLK) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776 shares of the asset manager’s stock after selling 24 shares during the period. Etesian Wealth Advisors Inc.’s holdings in BlackRock were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of BlackRock during the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA grew its stake in BlackRock by 208.3% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in BlackRock in the 4th quarter worth approximately $32,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Down 0.9 %

Shares of NYSE:BLK traded down $7.04 during midday trading on Wednesday, hitting $787.35. 182,173 shares of the company’s stock traded hands, compared to its average volume of 603,301. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The company has a market cap of $117.00 billion, a PE ratio of 20.04, a P/E/G ratio of 1.64 and a beta of 1.34. The firm’s fifty day moving average price is $777.24 and its two-hundred day moving average price is $792.54.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business posted $7.93 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a yield of 2.59%. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the company’s 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 completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

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.