BlackRock, Inc. (NYSE:BLK) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,363 shares of the asset manager’s stock after selling 37 shares during the period. Brown Brothers Harriman & Co.’s holdings in BlackRock were worth $23,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BLK. Vanguard Group Inc. raised its holdings in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after purchasing an additional 292,017 shares in the last quarter. Capital Research Global Investors boosted its position in shares of BlackRock by 11.1% in the 1st quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares during the period. Capital World Investors increased its stake in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after purchasing an additional 1,279,952 shares in the last quarter. Capital International Investors raised 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 worth $2,006,490,000 after buying an additional 58,681 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in BlackRock by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock valued at $1,636,052,000 after buying an additional 47,128 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $24,833,712.50. Following the completion of the transaction, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,407,041.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Evercore ISI boosted their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company assumed coverage on BlackRock in a report on Thursday. They issued an “overweight” rating and a $1,000.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen reduced their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $902.13.

BlackRock Price Performance

NYSE BLK opened at $885.73 on Monday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $131.62 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $903.46. The company has a 50 day moving average price of $857.98 and a two-hundred day moving average price of $814.50.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.96 by $0.40. The business 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%. BlackRock’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.28 EPS. As a group, equities analysts predict that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal 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 51.84%.

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.