Atlantic Union Bankshares Corp Reduces Holdings in BlackRock, Inc. (NYSE:BLK)

Atlantic Union Bankshares Corp cut its position in BlackRock, Inc. (NYSE:BLK) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,695 shares of the asset manager’s stock after selling 124 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in BlackRock were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of BlackRock during the fourth quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA increased its stake in shares of BlackRock by 208.3% in the fourth 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 last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in BlackRock in the fourth quarter valued at $32,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Price Performance

Shares of NYSE BLK opened at $787.32 on Friday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm has a market capitalization of $117.00 billion, a PE ratio of 20.01, a P/E/G ratio of 1.63 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The business’s fifty day moving average price is $779.33 and its two-hundred day moving average price is $792.66.

BlackRock (NYSE:BLK) last released 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. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company earned $7.93 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts expect that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Dividend Announcement

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

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the 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 owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the business’s 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 sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the company’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 completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BLK shares. Morgan Stanley boosted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price target (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. Finally, UBS Group raised their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus 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.