BlackRock, Inc. (NYSE:BLK) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,127 shares of the asset manager’s stock after selling 17 shares during the quarter. Granite Investment Partners LLC’s holdings in BlackRock were worth $12,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in BlackRock during the 1st quarter worth $27,000. Pineridge Advisors LLC acquired a new position in BlackRock during the 4th quarter worth $28,000. Lam Group Inc. acquired a new position in BlackRock during the 1st quarter worth $33,000. Fairman Group LLC acquired a new position in BlackRock during the 4th quarter worth $35,000. Finally, Chilton Capital Management LLC acquired a new position in BlackRock during the 1st quarter worth $38,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Up 1.3 %

BlackRock stock opened at $934.61 on Friday. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $138.88 billion, a P/E ratio of 23.75, a PEG ratio of 1.92 and a beta of 1.30. The stock has a 50-day simple moving average of $866.54 and a 200-day simple moving average of $817.30.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share 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 business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $9.28 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity at BlackRock

In related news, Director Mark Wiedman sold 27,000 shares of the business’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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 27,000 shares of the business’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 transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 in the company, valued at approximately $4,826,802.56. 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 quarter. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup boosted their target price on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company began coverage on BlackRock in a report on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 price target for the company. Finally, UBS Group decreased their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $902.13.

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.