Sei Investments Co. Has $38.46 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Sei Investments Co. cut its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,845 shares of the asset manager’s stock after selling 733 shares during the period. Sei Investments Co.’s holdings in BlackRock were worth $38,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BLK. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the first quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in shares of BlackRock in the fourth quarter valued at about $28,000. Lam Group Inc. bought a new position in shares of BlackRock during the first quarter valued at about $33,000. Fairman Group LLC bought a new stake in BlackRock in the 4th quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new stake in BlackRock in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Pamela Daley sold 1,531 shares of BlackRock 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 sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now 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. Over the last 90 days, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Evercore ISI boosted their target price on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company started coverage on BlackRock in a research note on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. UBS Group reduced their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup boosted their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $902.13.

BlackRock Price Performance

Shares of NYSE:BLK opened at $937.94 on Tuesday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $942.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market capitalization of $139.38 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.92 and a beta of 1.30. The company’s fifty day moving average price is $870.85 and its 200-day moving average price is $818.55.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm posted $9.28 EPS. BlackRock’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post 41.34 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.17%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

BlackRock Company 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.