State of Alaska Department of Revenue Cuts Stake in BlackRock, Inc. (NYSE:BLK)

State of Alaska Department of Revenue lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,486 shares of the asset manager’s stock after selling 740 shares during the quarter. State of Alaska Department of Revenue’s holdings in BlackRock were worth $14,577,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Albion Financial Group UT raised its position in BlackRock by 4.2% during the first quarter. Albion Financial Group UT now owns 11,263 shares of the asset manager’s stock worth $9,390,000 after acquiring an additional 454 shares during the last quarter. Valeo Financial Advisors LLC raised its position in BlackRock by 0.6% during the first quarter. Valeo Financial Advisors LLC now owns 2,963 shares of the asset manager’s stock worth $2,471,000 after acquiring an additional 17 shares during the last quarter. Carret Asset Management LLC raised its position in BlackRock by 8.4% during the first quarter. Carret Asset Management LLC now owns 322 shares of the asset manager’s stock worth $268,000 after acquiring an additional 25 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock worth $322,810,000 after acquiring an additional 14,477 shares during the last quarter. Finally, Silverlake Wealth Management LLC grew its holdings in shares of BlackRock by 11.6% during the first quarter. Silverlake Wealth Management LLC now owns 432 shares of the asset manager’s stock worth $360,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 0.0 %

BLK stock opened at $788.85 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm has a fifty day moving average price of $780.22 and a two-hundred day moving average price of $792.74. The firm has a market cap of $117.22 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.63 and a beta of 1.32.

BlackRock (NYSE:BLK) last released its earnings results 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 during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm earned $7.93 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $915.00 target price on shares of BlackRock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.17.

Insider Transactions at BlackRock

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 transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Laurence Fink sold 30,978 shares of the 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.