Resources Management Corp CT ADV Sells 84 Shares of BlackRock, Inc. (NYSE:BLK)

Resources Management Corp CT ADV trimmed its position in BlackRock, Inc. (NYSE:BLK) by 0.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,251 shares of the asset manager’s stock after selling 84 shares during the period. BlackRock accounts for approximately 1.6% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 17th biggest position. Resources Management Corp CT ADV’s holdings in BlackRock were worth $11,220,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BLK. Redmont Wealth Advisors LLC bought a new position in shares of BlackRock in the 1st quarter valued at $27,000. Pineridge Advisors LLC bought a new position in shares of BlackRock in the 4th quarter valued at $28,000. Fairscale Capital LLC bought a new position in shares of BlackRock in the 2nd quarter valued at $31,000. Lam Group Inc. bought a new position in shares of BlackRock in the 1st quarter valued at $33,000. Finally, Fairman Group LLC bought a new position in shares of BlackRock in the 4th quarter valued at $35,000. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was 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 approximately $5,407,041.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 in the last three months. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BLK. TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Evercore ISI increased their price objective on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Barclays increased their price objective on BlackRock from $985.00 to $990.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Wells Fargo & Company began coverage on BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $902.13.

BlackRock Stock Performance

Shares of BlackRock stock opened at $937.94 on Tuesday. 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 business has a 50-day moving average price of $870.85 and a two-hundred day moving average price of $818.55. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $942.73. The company has a market cap of $139.38 billion, a P/E ratio of 23.84, a PEG ratio of 1.92 and a beta of 1.30.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $9.28 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.17%. BlackRock’s dividend payout ratio is presently 51.84%.

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.