BlackRock, Inc. (NYSE:BLK) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 53.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,224 shares of the asset manager’s stock after selling 2,508 shares during the quarter. Axxcess Wealth Management LLC’s holdings in BlackRock were worth $1,751,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. XML Financial LLC boosted its position in shares of 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 period. Hexagon Capital Partners LLC boosted its position in BlackRock by 6.1% during the 2nd quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock worth $177,000 after acquiring an additional 13 shares during the period. Forza Wealth Management LLC grew its stake in shares of BlackRock by 1.3% in the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock worth $822,000 after purchasing an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of BlackRock by 4.4% during the second quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock valued at $243,000 after purchasing an additional 13 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in shares of BlackRock by 17.1% during the second quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 13 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BLK opened at $923.31 on Thursday. The company has a 50-day moving average of $864.35 and a two-hundred day moving average of $816.48. The stock has a market cap of $137.20 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $930.50.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $9.28 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently disclosed 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 presently 51.84%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 research note on Thursday, July 11th. Citigroup raised their price objective 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. Keefe, Bruyette & Woods increased their price target on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. TD Cowen dropped their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Evercore ISI raised their target price on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $902.13.

Insider Activity

In related news, Director Mark Wiedman sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,407,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at $298,272,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 6,480 shares of the company’s stock, valued at $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 in the last 90 days. Company insiders own 0.90% of the company’s stock.

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.