BlackRock, Inc. (NYSE:BLK) Stake Reduced by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 32.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272 shares of the asset manager’s stock after selling 130 shares during the period. Opal Wealth Advisors LLC’s holdings in BlackRock were worth $227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners acquired a new stake in BlackRock during the 4th quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in BlackRock during the 4th quarter worth about $28,000. Pineridge Advisors LLC acquired a new stake in BlackRock during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA raised its holdings in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after buying an additional 25 shares during the period. Finally, Northwest Financial Advisors acquired a new stake in BlackRock during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Up 0.1 %

Shares of BlackRock stock opened at $788.16 on Monday. The stock has a market capitalization of $117.12 billion, a P/E ratio of 20.02, a PEG ratio of 1.62 and a beta of 1.34. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $775.61 and a two-hundred day moving average price of $791.81. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00.

BlackRock (NYSE:BLK) last posted 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 return on equity of 15.24% and a net margin of 32.26%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the business earned $7.93 earnings per share. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be given a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.59%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley upped their target price on BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 target price (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

BlackRock 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.