Xponance Inc. Has $15.97 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Xponance Inc. cut its holdings in BlackRock, Inc. (NYSE:BLK) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,286 shares of the asset manager’s stock after selling 911 shares during the period. Xponance Inc.’s holdings in BlackRock were worth $15,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. XML Financial LLC increased its holdings in BlackRock by 2.6% during the second quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock worth $372,000 after buying an additional 12 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in BlackRock by 6.1% during the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after buying an additional 13 shares during the last quarter. Forza Wealth Management LLC increased its holdings in BlackRock by 1.3% during the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after buying an additional 13 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after buying an additional 13 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their target price on shares of BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley lowered their target price on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. UBS Group lowered their target price on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Barclays lifted their price objective on shares of BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Citigroup lifted their price objective on shares of BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Stock Down 0.7 %

Shares of NYSE BLK opened at $928.79 on Monday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $138.02 billion, a price-to-earnings ratio of 23.60, a PEG 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 $942.73. The stock has a 50-day moving average price of $868.55 and a two-hundred day moving average price of $817.80.

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. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm posted $9.28 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insider Activity

In other news, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 over the last quarter. 0.90% of the stock is owned by company insiders.

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.