Greenline Partners LLC Trims Position in BlackRock, Inc. (NYSE:BLK)

Greenline Partners LLC cut its position in BlackRock, Inc. (NYSE:BLK) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248 shares of the asset manager’s stock after selling 76 shares during the period. Greenline Partners LLC’s holdings in BlackRock were worth $3,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carolinas Wealth Consulting LLC increased its stake in shares of BlackRock by 25.0% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock worth $163,000 after purchasing an additional 40 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of BlackRock by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock worth $192,997,000 after purchasing an additional 1,647 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of BlackRock by 97.1% in the fourth quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after purchasing an additional 56,357 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in BlackRock by 3.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BLK shares. Wells Fargo & Company started coverage on shares of BlackRock in a research note on Thursday, September 12th. They set an “overweight” rating and a $1,000.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI raised their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, UBS Group lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Price Performance

BlackRock stock opened at $928.79 on Friday. The firm has a 50-day moving average price of $868.55 and a 200-day moving average price of $817.89. The firm has a market capitalization of $138.02 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $942.73.

BlackRock (NYSE:BLK) last released its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $9.28 EPS. As a group, equities research analysts forecast that BlackRock, Inc. will post 41.34 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.20%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a filing with the SEC, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by insiders.

About BlackRock

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.