CFO4Life Group LLC Cuts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

CFO4Life Group LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,259 shares of the asset manager’s stock after selling 25 shares during the period. CFO4Life Group LLC’s holdings in BlackRock were worth $2,717,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital Research Global Investors raised its stake in shares of BlackRock by 23.7% in the 4th quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after acquiring an additional 749,654 shares during the period. Capital World Investors grew its holdings in BlackRock by 57.3% during the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital International Investors grew its holdings in BlackRock by 2.4% during the 4th quarter. Capital International Investors now owns 2,471,621 shares of the asset manager’s stock valued at $2,006,490,000 after purchasing an additional 58,681 shares in the last quarter. Norges Bank acquired a new stake in BlackRock during the 4th quarter valued at $1,812,920,000. Finally, Fisher Asset Management LLC grew its holdings in BlackRock by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,015,535 shares of the asset manager’s stock valued at $1,636,212,000 after purchasing an additional 47,326 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. Morgan Stanley lowered their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday. 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 report on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $915.00 price objective on shares of BlackRock in a report on Tuesday, July 2nd. Finally, UBS Group decreased their price objective on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $844.67.

BlackRock Stock Performance

Shares of BlackRock stock traded up $11.42 during trading hours on Friday, reaching $836.29. The company’s stock had a trading volume of 325,812 shares, compared to its average volume of 596,152. The stock has a market cap of $124.27 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.68 and a beta of 1.32. The company’s 50 day simple moving average is $786.04 and its 200 day simple moving average is $792.91. BlackRock, Inc. has a one year low of $596.18 and a one year 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.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.65 billion. During the same period last year, the firm posted $7.93 EPS. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 41.27 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were given a dividend of $5.10 per share. The ex-dividend date was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.44%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insiders Place Their Bets

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

BlackRock Company 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.