Wealth Alliance Decreases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Wealth Alliance trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 674 shares of the asset manager’s stock after selling 47 shares during the quarter. Wealth Alliance’s holdings in BlackRock were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new stake in BlackRock in the first quarter worth $27,000. Pineridge Advisors LLC purchased a new stake in BlackRock in the fourth quarter worth $28,000. Lam Group Inc. purchased a new stake in BlackRock in the first quarter worth $33,000. Fairman Group LLC purchased a new stake in BlackRock in the fourth quarter worth $35,000. Finally, Chilton Capital Management LLC purchased a new stake in BlackRock in the first quarter worth $38,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated 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 transaction, the director now owns 5,732 shares in the company, valued at $4,826,802.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 27,000 shares of BlackRock 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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The disclosure for this sale can be found here. Insiders have sold 93,042 shares of company stock worth $79,387,117 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

BLK has been the subject of a number of recent research reports. Barclays raised their target price on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley cut their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Citigroup raised their price target on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen cut their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

BlackRock Price Performance

NYSE:BLK opened at $923.31 on Thursday. The firm has a market capitalization of $137.20 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $930.50. The stock has a fifty day moving average of $864.35 and a 200 day moving average of $816.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last released its quarterly earnings results 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 business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the business posted $9.28 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. The ex-dividend date is Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.21%. BlackRock’s payout ratio is 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.